Ozy reporters and editors saw little evidence the publication was popular despite CEO's claims, three sources tell CNBC.
after just three weeks on the job. Billionaire investor Lasry is the CEO of Avenue Capital Group and owner of NBA champions the Milwaukee Bucks.
"I believe that going forward Ozy requires experience in areas like crisis management and investigations, where I do not have particular expertise," Lasry said on Thursday. He added that he remains an investor in Ozy Media.that Ozy Media founder Carlos Watson lied when he claimed Sharon and Ozzy Osbourne invested in his company. The Osbournes filed a trademark lawsuit in 2017 over the company's name Ozy Fest, which is the firm's annual concert and festival.
Ozy also promised former producers that it was filming a show for A&E, according to a report from the Times on Thursday. But producers discovered that, too, was a lie, and that A&E never had plans to air interviews Ozy had filmed, according to The New York Times. Previous employees at Ozy told CNBC Friday that Watson ran the company as a charismatic and temperamental leader. His demands on reporters — including writing four feature-length stories a week with "flavorful" prose — led several employees to quit from burnout. CNNWatson would frequently boast of Ozy's reach at internal meetings, said three people who were present for them, but reporters and editors saw little evidence of Ozy's popularity.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ozy Media to Shut Down, Following Revelations of Questionable Business PracticesOzy Media is shutting down. Per a statement from the company’s board of directors: “At Ozy, we have been blessed with a remarkable team of dedicated staff. Many of them are world-class journa…
Read more »
Ozy Media is shutting down after a week of scrutiny into its businessOzy Media announced on Friday that it will cease operations. The announcement comes five days after the The New York Times published a bombshell report about its business practices, which kicked off additional scrutiny from other media outlets.
Read more »
Ozy announces it is shutting down, media company faced scrutinyInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Read more »
Ozy Media to Cease Operations Amid TumultOzy Media said it would cease operations, less than a week after a New York Times article raising questions about the company’s business practices led to high-profile departures and a pullback from some major advertisers
Read more »
WSJ News Exclusive | Major Ozy Media Advertisers Suspend Ad Campaigns Amid TumultSeveral major advertisers of Ozy Media are putting their ad campaigns on hold in the wake of a New York Times article that raised questions about the company’s business practices
Read more »