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Agreement Amending Intercompany Credit Agreement

This is an actual contract by Modem Media.

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Sectors: Services
Effective Date: April 26, 2000
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Exhibit 4.8


THIS AGREEMENT made as of April 26, 2000, by and between True North Communications Inc., a Delaware corporation ("True North") and Modem Media . Poppe Tyson, Inc., a Delaware corporation ("Modem Media").


WHEREAS, True North has agreed to convert, and cause its subsidiaries to covert, Modem Media's Class B shares to Class A shares; and

WHEREAS, True North and Modem Media wish to facilitate the conversion of Class B shares to Class A shares.

NOW, THEREFORE, the parties, intending to be legally bound, agree that on the date True North and its subsidiaries convert Class B common stock to Class A common stock (the "Effective Date") the following provisions shall apply:

1. Amendment to Stockholders Agreement. The Stockholders Agreement dated
----------------------------------- May 4, 1999 by and among True North, Modem Media and Gerald M. O'Connell, and Robert C. Allen, II shall be amended as follows:

a) The date "June 30, 2000" in Paragraph 5 (ii) of the Stockholders
Agreement is hereby deleted in its entirety and "April 26, 2000" shall
be substituted therefore; and

b) Paragraph 4 of the Stockholders Agreement shall be deleted in its
entirety and the following shall be substituted therefore:

"Following the Expiration Date until such time as True North
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