Update: A "strange chapter" in the media world has come to a close. That's per the New York Times, which reports that Ozy Media, the digital media firm it had dropped a bombshell report on earlier in the week, is shuttering. "It is ... with the heaviest of hearts that we must announce today that we are closing Ozy's doors," the company's board of directors said in a Friday statement, praising its "dedicated staff" of "world-class journalists." Apparently, investors and advertisers had started to flee after this week's developments, and CEO Carlos Watson determined the company couldn't bounce back. Meanwhile, the Times reports that Watson has stepped down from his position on the board of public radio group NPR. Our original story from Friday follows:
On Sunday, the New York Times published a bombshell report by reporter Ben Smith, claiming that a top exec at digital media company Ozy Media had impersonated a YouTube employee while on a call with possible investors. By the end of the week, one of Ozy's biggest stars had left the company, and the chairman of the firm's board had also resigned, per the Hill. Now, a Thursday report by Smith details new allegations by a former Ozy producer who says the company created a TV program based on "a false claim." More on this evolving story: