The film company, whose movie "No Country for Old Men" recently took home the Academy Award for best picture, spent almost $100 million on measured media in 2007, according to TNS Media Intelligence. About $44 million of that was spent on newspaper ads bought by Allied Advertising. That portion of the account is not affected by the review.
"We routinely look at best practices in the marketplace in all parts of our business," Jason Cassidy, exec VP-marketing, Miramax, said in a statement.
Palisades has been invited to defend. Havas's MPG and Publicis Groupe's Starcom are also pitching the account, executives familiar with the matter said.
Spokeswomen for Palisades and MPG could not immediately be reached, and a spokeswoman for Starcom referred calls to Miramax.
Founded in 1979 by Harvey and Bob Weinstein, Miramax was acquired by the Walt Disney Co. in 1993. The Weinsteins left the company in 2005 after a public falling out with Disney and went on to form the Weinstein Co.
Losing Miramax would be a blow to Palisades, which handles about $650 million in billings annually, according to the company's website. Headquartered in Los Angeles, the agency has a client roster dominated by entertainment companies, including Weinstein Co.
Palisades has had a long relationship with Miramax; it was the film company's media agency from 1996 until April 2003 and, after a short gap, resumed media buying and planning for the company in 2004.