ARTHUR ANDERSEN LOSES MORE AD CLIENTS

Bcom3, Modem Media Latest to Dump Embattled Firm

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NEW YORK (AdAge.com) -- Bcom3 Group became the second agency holding company to replace embattled Arthur Andersen as its auditor.

In a document filed with the Securities and Exchange Commission, Bcom3 disclosed it had hired Ernst & Young, effective May 23. Ernst & Young handles audits for Publicis Groupe, which is expected to complete its acquisition of Bcom3 this summer.

Meanwhile, interactive agency

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Modem Media disclosed in a document filed with the SEC that it parted ways with Andersen and hired PricewaterhouseCoopers as its auditor, effective May 28.

Andersen continues to lose clients in the wake of the Enron Corp. scandal. Last week, WPP Group replaced Andersen with Deloitte & Touche, which acquired part of Andersen's London practice.

Earlier this week, Andersen announced Ernst & Young would acquire a large portion of its New York-based operations, including its advertising industry practice.

Andersen currently also handles auditing for Omnicom Group and Havas; both companies have said they are considering replacements.

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