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TRUE NORTH READY TO ANNOUNCE 2000 EARNINGS

Published on .

True North Communications will announce on March 12 its results for 2000 and the fourth quarter. The company had canceled a planned March 1 earnings announcement and analyst conference call, saying it had to resolve some accounting issues with the Securities and Exchange commission, as reported on AdAge.com.

The conference call, scheduled for 11 a.m., will also discuss the resulution of the accounting discussions.

Modem Media, which was believed to have been the source of the accounting matter, will also report results March 12. True North owns approximately 44% of Modem Media.

True North had been reported as being in merger talks with France's Havas Advertising, but insiders now say the talks appear to have cooled off, and that Interpublic Group of Cos. has been mentioned as a new entrant in the bidding. True North's stock closed up 0.34%, gaining $0.13 to close at $38.14 in the New York Stock Exchange.

Copyright March 2001, Crain Communications Inc.

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