Scandal-hit Ozy Media says it has re-launched

Source: BBC

Scandal-hit Ozy Media says it has re-launched

4 October 2021

In an about-turn, the scandal-hit US media firm Ozy Media has re-launched just days after it shut itself down.

Boss Carlos Watson told broadcaster NBC that the firm was "open for business" again and this was its "Lazarus moment" - referring to the biblical character brought back to life by Jesus.

Ozy shut on Friday after reports its co-founder had deceived potential investors during a conference call.

Major advertisers cut ties and its chairman Marc Lasry stepped down.

On Monday, Mr Watson told NBC that the previous week had been "traumatic" and "heartbreaking".

However, he said the media firm had a change of heart: "Over the weekend we spoke to advertising partners, we talked to our readers, our viewers our investors.

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Read more: https://www.bbc.com/news/business-58793192