Paramount Pictures has been busy in the mobile space, having recently signed a deal with Artificial Life to launch two mobile games based on their movies.

Now they're working with Microsoft. According to a MediaPost report, MSN Mobile will begin running display ads throughout the mobile portal, and named both Paramount Pictures and Jaguar as the charter advertisers on the site beginning yesterday, December 10th.

The display ads will include banner and text placements that will appear on the MSN Mobile home page and its five channels, according to the report--sports, news, entertainment, weather and money. The mobile ads will not include video formats, and will be sold on a CPM (or cost-per-impression) basis.

These moves follow similar ones from Google, Yahoo, and AOL, all of which already display ads on their mobile sites.

Paramount and Jaguar Are Charter Subscribers As MSN Mobile Intros Display Ads