Sputtering Ozy Media Officially Shutters After Founder’s Fraud Arrest
Ozy Media said in a statement it was shuttering do to “its current operational and legal challenges.”
David Dee Delgado/Reuters
Ozy Media may finally be done for good, with the floundering media company announcing Wednesday it is suspending operations “immediately” because of “current operational and legal challenges.” The legal challenges are likely a reference to the arrest of founder and CEO Carlos Watson on fraud charges in New York City last week. A detention memo obtained by The Daily Beast accused Watson of misleading investors and fudging the company’s audience numbers to advertisers—crimes that could land Watson behind before for up to 37 years if he’s convicted. It's the second time Ozy Media has suspended operations, with the last instance in 2021 lasting just three days. While Ozy had technically operated ever since, it'd been a shell of its former self, which was once a promising media startup known for its “Ozy Fest”—a music and ideas festival—that garnered national attention and drew scores of celebs.
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