Ozy Media CEO Carlos Watson says his media startup is no longer closing

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Ozy employees also lost access to their company emails and other digital communication tools on Friday when the company announced it was going out of business. So they learned the news that Ozy was supposed to still be in business on Monday the same way the rest of the world was: by watching Watson on the “Today” show or watching clips online afterwards.

“We’re going to open our doors,” Watson told “Today” host Craig Melvin. “This is our Lazarus moment, if you will. This is our Tylenol moment. The last week has been traumatic. It was difficult, heartbreaking in many ways.”

But Watson’s claims raise more questions.

Who is overseeing Ozy now? The company has in fact already been dissolved. Three of the five board members resigned following Ben Smith’s New York Times briefing on Ozy’s misrepresentation.

Is there really a demand from consumers and advertisers for this? Ozy’s advertisers and investors “felt misled. It’s pretty hard to get over it,” Smith told “Reliable Sources” on Sunday.

Who will be working for Ozy at this point? Watson had informed employees on Friday that they would be receiving their last paychecks soon. A staff member who was at the meeting told CNN Business Monday that he had not heard directly from Watson since then and was skeptical that any of his former colleagues would return to work at Ozy.

Ozy Media closes its doors after a week of scrutiny of its activities

Ozy’s shuttering came just five days after the Times report, which included an allegation that Rao, co-founder and COO of Ozy, posed as a YouTube executive during a call with Goldman Sachs. The Times wrote that Watson “attributed the incident to a mental health crisis.” In Monday’s interview on “Today,” Watson said he was unaware that Rao was going to pose as the executive.

“It’s sad. It’s tough and it was wrong,” Watson said. “Obviously, they figured it out very quickly.”

The Times briefing also opened a flood of covers last week that questioned Ozy’s business practices. CNN Business reported on the workplace culture at Ozy, which some former staff claimed to be abusive. Watson, Rao and Ozy did not respond to requests for comment on the allegations last week.
Also on Monday, Watson appeared on CNBC’s “Squawk Box” Monday to discuss Ozy’s return.

An executive who has known Watson for decades reacted to his interviews with a mixture of anger and astonishment.

“Carlos is doing what Carlos has always done – he is rolling out new ideas in the media without answering any of the old questions,” the executive said.

In other words, Watson’s “Today” and “Squawk Box” interviews were a backbone of what he knows best: TV interviews that create an appearance of success. Prior to founding Ozy, Watson had a career in television as a host and commentator for CNBC, MSNBC, and CNN.

6-hour days and panic attacks: Former Ozy employees allege abusive environment

On “Squawk Box,” Watson said he “owns” the company’s missteps, saying “we definitely should have been better with data” and marketing.

But Watson dismissed any suggestion it was more than a bad deal.

“Just because something is sloppy or stupid doesn’t mean it’s illegal,” Watson said.

He also attacked Smith on several occasions, arguing that the Times columnist was too much in conflict to write about Ozy. Watson called Smith’s article a “ridiculous hitjob” last week.

Watson, still the self-promoter, seems to see this moment as an opportunity for growth.

“We’re back. It’s not going to be easy, but I hope that if people now know the name Ozy, I hope they will sign up for our newsletters,” he said at the end. of his interview on the show “Today”.

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