Top Line

OG Media co-founder and CEO Carlos Watson has resigned from his role on NPR’s board of directors, the radio network announced Friday, following a cascade of new revelations about his digital media company’s business practices. In the midst of a continuing decline.

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Watson resigned as NPR’s corporate director ahead of a scheduled meeting between members of the organization’s corporate board, who were set to discuss their “future with the public radio network”. NPR.

Watson joined NPR’s board in 2016 and was recently re-elected for a second three-year term that was set to begin next month.

He submitted his resignation in a letter to the chairman of the board, Lafontaine Oliver, who said in a statement that it had been accepted and would be effective “today”.

main background

Ozzy Media has lost advertisers, one of its top journalists, and the chairman of its board after a series of reports accusing the company of going to great lengths to defraud advertisers, investors and the public. A cascade of bad press was sparked by a scathing report published by the new York Times on Sunday details of An incident in which fellow Ozzie founder Samir Rao impersonated a YouTube executive in an attempt to secure a $30 million investment from Goldman Sachs. Watson reacts by blaming Rao’s behavior for mental health crisis many times’ The story was a “hit piece.” It’s Ozy’s. opened the door to many revelations about masquerade Investor numbers, exaggerated numbers and poor company culture. Businesshala’ Own reporting reveals how the company falsely promoted one of its flagship products, the annual Ozzie Fest. One employee reported that OG’s 2019 festival was dangerously close to being “a fair festival,” after ticket sales, celebrity bookings, and exaggerated sponsorships. Businesshala, but was saved by a fortunately timely heatwave and subsequent insurance payments that appeared to save the company from a major financial loss.

what to see

OG Media is reportedly being investigated by the FBI, as well as the law firm Paul, Weiss, Rifkin, Wharton & Garrison, retained by the company’s board earlier this week to review its business activities Is.

“Ozzie Fest Was About to Be the Next Fyre Festival—Until a Heat Wave (and Insurance Claims) Kicked Them Out” (Businesshala)

“OG Media President Mark Larry resigns amid escalating scandal” (Businesshala)

Goldman Sachs, Ozzy Media, and a $40 million conference call gone wrong (new York Times)

“18 Hour Days and Panic Attacks: Former OG Employee Alleges Abusive Environment” (CNN)