Ozy to Shut Down After Advertisers Flee Embattled Media Startup
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Embattled media startup Ozy Media Inc. will shut down following an exodus of advertisers, claims that it inflated its online-traffic numbers and a scandal involving its co-founder posing as a YouTube executive.
“At Ozy, we have been blessed with a remarkable team of dedicated staff,” the board said in a statement Friday. “Many of them are world-class journalists and experienced professionals to whom we owe tremendous gratitude, and who are wonderful colleagues. It is therefore with the heaviest of hearts that we must announce today that we are closing Ozy’s doors.”