Ozy Media Board announces investigation into business practices

Ozy Media CEO Carlos Watson in New York City at a 2018 event.


Photo:

Matthew Eisman/Getty Images for Ozy Media

The board of directors of online news magazine Ozy Media said it was conducting an investigation into the company’s business practices after a New York Times report raised questions about the company.

In a statement, Ozy’s board of directors, which includes Milwaukee Bucks owner Mark Lasry, said it has hired law firms Paul, Weiss, Rifkind, Wharton and Garrison LLP “to conduct an audit of the company’s business activities.”

Sunday, The New York Times reported Who impersonated Samir Rao, chief operating officer of Ozzy, as an executive

the alphabet a company

YouTube on a fundraising call with

Goldman Sachs Group a company

Carlos Watson, CEO of Ozy . said: on Twitter On Sunday, Mr. Rao’s behavior on the call was “extremely unfortunate” and he attributed his behavior to a mental health issue.

The board said it had asked Mr. Rao to take leave pending the investigation. The board said Harry Hawkes, the former chief executive and chief financial officer of Hearst Television, had agreed to serve as interim chief financial officer during the review.

write to Benjamin Mullen in Benjamin.Mullin@wsj.com

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It appeared in the September 29, 2021, print edition as “Ozy Media Managers Investigating Practices”.

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