Milwaukee Bucks co-owner Marc Lasry has stepped down as board chairman of Ozy, putting some distance between himself and the embattled media company.
Ozy, which covers news, sports, and culture and hosts festivals, has dealt with a string of embarrassing incidents, including a recent revelation that Ozy’s chief operating officer Samir Rao impersonated a YouTube executive on a call with Goldman Sachs investors.
Goldman had been considering a $40 million investment in Ozy.
An additional report detailed a saga in which producers and guests working on Ozy’s “Carlos Watson Show,” featuring the company’s CEO, were repeatedly told that the show would broadcast on A&E when no such deal was in place.
- In stepping down, Lasry said that Ozy “requires experience in areas like crisis management and investigations, where I do not have particular expertise,” adding that he is still an investor in the company.
- Ozy had its first profitable year in 2020 off $50 million in revenue, according to Axios. The company has raised over $70 million.
- Watson resigned from the board of NPR on Friday.
Lasry, whose net worth is $1.8 billion, per Forbes, joined an ownership group to purchase the Bucks for $550 million in 2014. Forbes now values the team at $1.63 billion.
