MGM Assigns Media to Palisades

LOS ANGELES Palisades Media Group has acquired Metro Goldwyn Mayer’s media buying and planning today without a review, the agency confirmed. Billings were undisclosed.

“It is great to be in business with [MGM COO] Rick [Sands] again,” said Roger Schaffner, Palisades chairman and chief executive officer, who had a previous business relationship with Sands when he was at Miramax, from 1997 to 2004. “It’s a great opportunity to help him build the studio.”

“In expanding our team at MGM, we knew we could count on the expertise and marketing savvy of Palisades Media Group,” said Sands in a statement. “They have proven themselves as formidable partners in identifying and communicating the distinct attributes and appeal of unique entertainment properties to consumers across a variety of platforms and approaches.”

Recently reorganized, the Culver City, Calif.-based studio is owned by six partners, including Sony Corporation of America and Comcast. According to Schaffner, the studio intends to release 18 movies in the near future, including titles from the Weinstein Company.

Palisades Media Group is located in Santa Monica, Calif.