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Where to tie up Ulysses now? 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.
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. I think what we do Launched in California in , Ozy Media produces left-leaning podcasts, television series and events. The firm has won an Emmy for its work. Mr Rao reportedly claimed that Ozy's videos were highly popular on YouTube. According to the Times, the investors realised something was wrong and did not go through with the deal.
Mr Watson later apologised and Mr Rao was allowed to stay at the firm. Amid growing scrutiny last week, Ozy began an internal investigation and Mr Rao took a leave of absence.
Ford and Ally Financial cut ties with the media firm, amongst other advertisers. He accepted that it was a "fair question" as to whether people would be able to trust him again as chief executive. The latest scandal is just one in a long string of allegations that has emerged, including claims the firm inflated its audience figures. Mr Watson said he had been given "incredibly bad advice" last week "to go silent", when he should have engaged with the press.
As a result, he said "half truths", inaccuracies and "cheap shots" were reported in the media and that Ozy was not a "house of cards".
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