Reaction of methylpalladium alkoxide complex, PdMe(OCH(CF3)2)(dppe) (dppe = 1,2-bis(diphenylphosphino)ethane) with phenylacetylene gives PdMe(C=CPh)(dppe) (I). Methylpalladium and -platinum alkoxide complexes having PMe3 ligands also react with phenylacetylene to give trans-PdMe(C-CPh)(PMe3)2 (II) and trans-PtMe(C=CPh)(PMe3)2 (III), respectively. The complexes were characterized by IR and NMR spectroscopy as well as by elemental analyses. Thermolysis of complexes I-III causes reductive elimination of MeC=CPh in 97-98% yields. Reaction of I with CO at 1 atm gives MeC=CPh while the reaction with CO at 10 atm gives a mixture of MeCOC=CPh and MeC=CPh. Complex III does not react with CO at 1 atm.