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WSJ News Exclusive | Ozy Media Board Announces Investigation of Business Practices

Ozy Media CEO Carlos Watson in New York Metropolis at a 2018 occasion.



Photograph:

Matthew Eisman/Getty Photos for Ozy Media

The board of administrators of on-line information journal Ozy Media stated it was conducting an investigation into the corporate’s enterprise practices following a New York Occasions report that raised questions concerning the firm.

In a press release, Ozy’s board of administrators—which incorporates Milwaukee Bucks co-owner

Marc Lasry

—stated that it has employed the regulation agency Paul, Weiss, Rifkind, Wharton and Garrison LLP to “conduct a evaluate of the corporate’s enterprise actions.”

On Sunday, the New York Times reported that Ozy Chief Working Officer

Samir Rao

impersonated an govt from

Alphabet Inc.’s

YouTube on a fundraising name with

Goldman Sachs Group Inc.

Carlos Watson,

Ozy’s CEO, stated in a statement on Twitter Sunday that Mr. Rao’s conduct on the decision was “deeply unlucky” and attributed his conduct to a psychological well being problem.

In its assertion, the board stated that it has requested Mr. Rao to take a go away of absence pending the investigation. The board stated that

Harry Hawks,

the previous govt president and chief monetary officer of Hearst Tv, has agreed to function interim CFO in the course of the evaluate.

Write to Benjamin Mullin at [email protected]

Copyright ©2021 Dow Jones & Firm, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Appeared within the September 29, 2021, print version as ‘Ozy Media Administrators Examine Practices.’




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