Ozy Media closed down after accusation of misconduct
US digital media company Ozy Media announced that it has closed down. No explanation was given but the board’s statement came days after the New York Times published a story on how Ozy has been exaggerating its audience and reach and trying to deceive investors.
The recently appointed chairman Marc Lasry, CEO of Avenue Capital Group, resigned saying the company needed a chair experienced in crisis management and investigations. Resigned did also profile staffer, ex-BBC anchor woman Katty Kay who recently joined Ozy.
Among accusations is that the company had tried to deceive investors. The accusations are reportedly now under investigation by the police.
In a message to the New York Times, the board said it is with the heaviest of hearts that “we must announce today that we are closing Ozy’s doors”.
CEO Carlos Watson informed employees. He did not take any questions according to a staffer that TV-channel CNBC quoted. Ozy had around 75 employees.
Ozy’s website was still up Saturday European time.
The company, based in Mountain View, California, was founded 2013. It has been producing TV shows, podcasts and newsletters saying it represented “the new and the next”.
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