Lionsgate is believed to be slashing 8% of its workforce in a second round of redundancies after the Santa Monica-based studio cut 41 jobs last November.

The studio did not return calls about the latest cull, which is understood will reduce the headcount by 45 to approximately 500 people.

Studio sources also made no comment when asked about rumours that Lionsgate is in talks with Ryan Kavanaugh's ambitious Relativity Media on a major financing deal. Relativity sources also declined to comment on the development.

Meanwhile, the studio's battle with corporate raider Carl Ichan continues. Icahn is Lionsgate's third largest shareholder with a 14.5% stake and has been trying to gain seats on the board.

He recently offered to acquire Lionsgate's debt for $350m but so far the board has not expressed an opinion on the offer. which expires on April 20.

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