Technicolor Cenime Advertising will work as an intermediary between advertising agencies and cinemas.
The new company is born out of an agreement between the companies to jointly develop their co-owned screen advertising businesses in the US.
Carlton decided to keep a stake in the business, formerly Screenvision, when it sold its film-processing unit Technicolor to Thomson at the end of last year.
The joint venture was cleared by a new EU process, which investigates uncomplicated and uncontroversial mergers after one month if no objections are raised by third parties.