October 24, 2021

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Ozy Media Hit by Revelations and Departures. Right here's the most recent.

Ozy Media Hit by Revelations and Departures. Here's the latest.

Ozy employed a workforce to make a chat present for A&E — “The Carlos Watson Present,” hosted by Ozy’s co-founder and chief govt. Visitors had been informed the present would air on A&E, and the present’s govt producer was informed it will premiere in August 2020 in prime time.

The issue: A&E stated there was no such deal. The manager producer resigned after discovering out, writing to Ozy’s leaders: “You might be taking part in a harmful sport with the reality. The implications of providing an A&E present to friends after we don’t have one to supply are catastrophic for Ozy and for me.”

That’s the latest revelation about the embattled media company from The New York Times media columnist Ben Smith. It adopted his report on Sunday that raised questions on Ozy’s enterprise practices, together with an incident wherein an govt apparently impersonated a YouTube govt as Ozy was attempting to boost cash.

Right here’s what we all know.

When the manager producer, Brad Bessey, resigned, he informed the present’s workers that this system was not, the truth is, going to be proven on A&E. Mr. Watson then informed the individuals on the Zoom name that “The Carlos Watson Present” would ultimately wind up on A&E, in keeping with Mr. Bessey and one different particular person on the decision. Till that point, Mr. Watson added, the present would seem on YouTube as a part of its YouTube Originals, a slate of programming made by skilled studios and paid for by YouTube.

“The Carlos Watson Present” ended up showing on Ozy.com and on YouTube, though not as a YouTube Authentic. A YouTube official confirmed that the present was not a YouTube Authentic. Mr. Watson and an Ozy spokesperson didn’t reply to requests for remark.

Read more about the proposed A&E show →

Marc Lasry, the chairman of Ozy’s board and a hedge fund supervisor who can also be a co-owner of the Milwaukee Bucks, resigned on Thursday, 4 days after The Occasions reported that someone from Ozy appeared to have impersonated a YouTube govt throughout a convention name with Goldman Sachs bankers whereas the corporate was attempting to boost $40 million.

“I consider that going ahead Ozy requires expertise in areas like disaster administration and investigations, the place I shouldn’t have explicit experience,” Mr. Lasry stated in an emailed assertion. “For that cause, I’ve stepped down from the corporate’s board. I stay an investor within the firm and want it one of the best going ahead.”

Read more about the resignation of Mr. Lasry →

Katty Kay, who left her job as a BBC anchor and correspondent to affix Ozy in June, said on Wednesday that she had resigned. “The allegations in The New York Occasions, which caught me without warning, are critical and deeply troubling, and I had no alternative however to finish my relationship with the corporate.”

Read more about the resignation of Ms. Kay →

SV Angel, led by the enterprise capitalist Ron Conway, knowledgeable Ozy on Tuesday that it was giving up the shares it had acquired within the firm in 2012, in keeping with an adviser to SV Angel. (Axios first reported that SV Angel was giving up its shares.)

The board said on Tuesday that it had employed Paul, Weiss, Rifkind, Wharton and Garrison, a big worldwide agency with headquarters in New York, to conduct a overview of Ozy’s enterprise actions. The board additionally stated it had requested Samir Rao, the chief working officer of Ozy and the one who apparently impersonated the YouTube govt, “to take a go away of absence pending the outcomes of the investigation.”

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