Lions Gate Entertainment Corp. plans to raise $125 million to $150 million through a debt issue, the film and television company said. Lions Gate said it would use the proceeds to repay other debt and for general corporate purposes, which could include the financing of future acquisitions.
Motorola Inc. said it would eliminate 1,000 jobs and take a charge of $50 million for severance benefits as it moved to complete a spinoff of its money-losing semiconductor unit.
Cisco Systems Inc. Chief Executive John Chambers realized a gain of $38.3 million by exercising options to purchase Cisco shares during fiscal 2004, the company said. The executive also received a bonus of $1.9 million and a salary of $1 during the period.
Solectron Corp., the Milpitas, Calif., maker of circuit boards and networking gear for others, said its fourth-quarter loss narrowed to $44.5 million, or 5 cents a share, from $162.7 million, or 20 cents, a year earlier. Sales rose 23% to $3.01 billion, but the company said first-quarter sales would miss analysts’ forecasts.