Ozy Media is no longer in Kansas. Or in another jurisdiction. According to a statement on Twitter, the company has decided to cease operations today.
“Given the current operational and legal challenges, the OZY Board has determined that it is in the best interest of those involved to cease operations immediately,” the tweet read.
The decision comes shortly after Ozy Media founder Carlos Watson was arrested by federal investigators and charged with fraud, according to multiple news reports.
Prosecutors said in a court document that Watson “engaged in a scheme to defraud Ozy’s potential investors, potential buyers, supporters and potential supporters” by inflating the site’s viewership and finances in a scandal that broke last fall , began to unfold.
The company once had more than 50 employees, although it is unclear how many are still employed. The company produced podcasts, television series and events, as well as profiles of rising stars and emerging trends
Source: Deadline
Joseph Fearn is an entertainment and television aficionado who writes for The Fashion Vibes. With a keen eye for what’s hot in the world of TV, Joseph keeps his readers informed about the latest trends and must-see shows.
