Embattled Ozy CEO Carlos Watson said the shuttered company is having a “Lazarus moment,” but it came as a surprise to the company's former employees
Photo: Screencap/The Today Show/NBC Ozy Media, which announced on Friday it was shutting down after a tumultuous week in which the company’s management, business practices, culture, readership, and value were all loudly called into question, is back from the dead, its embattled CEO claimed on Monday morning.
Watson acknowledged on Monday that Ozy had suspended operations last week “with a plan to wind down.” But, he added, “as we spent time over the weekend, we talked to advertising partners, we talked to some of our readers, some of our viewers, our listeners, our investors,” after which he decided to reverse course.
Axios pointed out that Ozy still faces investigations into whether it defrauded investors, and that it’s unclear how much cash the company has on hand.
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