NEWS FLASH: Palomar Closes

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AdCritic has learned that Los Angeles production company Palomar Pictures is closing its doors. Following months of speculation about Palomar's future, both inside and outside the company, the decision to shutter the shop was announced to staffers Thursday night, according to sources. Palomar was founded in 1992, and has been headed by Propaganda Films co-founder Joni Sighvatsson since 1999.

According to head of production John LaChapelle, the shop "is winding down" and will complete current and booked jobs -- some of them booked as recently as this week -- before closing completely. In the meantime, he says staff has been trimmed back to "essentials."

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