Pathé is believed to have a "long list" that includes five or six other agencies. Managing director John Fletcher is conducting the review - Pathé does not currently have a marketing director.
BLM said the client had introduced new supplier procurement guidelines, including a requirement to review suppliers after three years.
Pathé distributes about 20 titles each year, both third-party films and those produced by Pathé itself. Recent successes include the Oscar-winning Crash, The Descent, House of Flying Daggers and the Roman Polanski directed version of Oliver Twist.
Last June, Pathé announced it was linking with the BBC to develop British film productions using the UK Film Council's Development Fund in a bid to halt the export of British ideas and talent to the US.
Last month, BLM took the £6m media planning and buying account for garden fertiliser supplier Scotts Miracle-Gro from BJK&E.
The agency has also been linked in press reports with a sale to integrated communications agency The Engine Group. However, these rumours were denied by BLM chairman Nick Lockett.
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