The $40 million to $50 million account -- which Mr. Tarakajian said would have been "well under $20 million in billings next year" and prohibited the agency from pursuing other work in the telecommunications field -- was FCB's last piece of AT&T business.
The agency lost
AT&T Corp. did not immediately return a phone call.
There was no word on whether a review will be called, but independent shop Schifino/Lee Advertising, Tampa, Fla., which has been doing project work for AT&T Business for the past couple of years, is poised to win the account without a review, according to people familiar with the matter.
In an internal memo to staff obtained by AdAge.com, Mr. Tarakajian said the agency is "well on our way to forging new partnerships with telecommunications companies. It's time now to stop looking back and focus on the future instead."