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Ozy Media shuts down after days of scandal, reports of lies and misconduct

Carlos Watson, founder of the US online magazine, talks in Berlin, Germany, 06 October 2014.Britta Pedersen | picture alliance | Getty ImagesOzy Media’s board on Friday announced that the company is shutting down, according to The New York Times.”At Ozy, we have been blessed with a remarkable team of dedicated staff,” the company’s board told The New York Times. “Many of them are world-class journalists and experienced professionals to whom we owe tremendous gratitude and who are wonderful colleagues. It is therefore with the heaviest of hearts that we must announce today that we are closing Ozy’s doors.”The news follows a week of reporting on misconduct and lies at the company.The New York Times first reported on Sunday that an Ozy executive later revealed to be COO Samir Rao, impersonated a YouTube executive on a conference call with Goldman Sachs, which was considering a $40 million investment in the company. The company had also allegedly vastly inflated its monthly unique visitors, a metric used by media companies to attract advertisers. On Wednesday, This is breaking news. Please check back for updates.

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