Board of Directors' statement did not give the reason for shutting down the company

Ozy is shutting down less than a week after a New York Times column raised questions about the media organization’s claims of millions of viewers and readers, while also pointing out a potential case of securities fraud, the Associated Press reports.

The story triggered canceled shows, an internal investigation, investor concern and high-level departures at the company.

An emailed statement Friday from Ozy Media’s board called it a company with many “world-class journalists and experienced professionals to whom we owe tremendous gratitude.” It said it was “with the heaviest of hearts that we must announce today that we are closing Ozy’s doors.”

The board’s statement did not give the reason for shutting down the company based in Mountain View, California. Ozy did not respond to questions about why it was shutting down now or how many employees it had.

Ozy’s CEO, former cable-news commentator and host Carlos Watson, started Ozy in 2013. It published stories on its website, made podcasts, newsletters and shows and hosted the OzyFest festival. Its website remained up on Friday afternoon.

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