adplus-dvertising
Connect with us

Media

Ozy’s Digital Media Meltdown Is Just Getting Started – Vanity Fair

Published

 on


Since the Times’ bombshell report on Ozy’s questionable metrics, which entangled CEO Carlos Watson, the company’s board has opened an investigation, a new hire has publicly quit, and A&E has canceled a partnered broadcast.

New York Times media columnist Ben Smith dropped a bomb Sunday night by revealing how “disruptive” news start-up Ozy Media—one that bills itself as “the New and the Next”—looked more like a digital Potemkin village sold to Silicon Valley investors. In February, according to Smith’s column, Ozy’s cofounder Samir Rao altered his voice and created a fake email address to apparently impersonate a YouTube executive during a call with Ozy CEO Carlos Watson and the asset-management division of Goldman Sachs, which was looking to pump $40 million into the company. While the meeting was arranged as a Zoom videoconference, Rao, who claimed to be YouTube Originals’ head of unscripted programming, asked attendees to switch to a non-video call. Once everyone had switched over to audio-only, according to the Times, Rao made claims about the impressive traffic numbers that Ozy’s content was enjoying on YouTube. 

Watson blamed his partner’s apparent attempt to defraud investors on “a very personal mental health issue.” Rao, he told Smith, “is a valued colleague and a close friend” and “I’m proud that we stood by him while he struggled, and we’re all glad to see him now thriving again.” On Tuesday, Ozy’s board of directors announced the hiring of an outside firm, Paul, Weiss, Rifkind, Wharton and Garrison, to review its “business activities,” while also noting that Rao will “take a leave of absence pending the results of the investigation. We will continue to review the company’s leadership in the coming months.”

Even in an industry where digital metrics are seized upon for maximum hype, Ozy seems to have taken self-promotion to another level. The company is now facing serious scrutiny over claims about its audience and influence, with the Daily Beast reporting that the deception reported Sunday “is just one of several times the outlet has appeared to engage in misleading or exaggerating tactics.” (Ozy and Watson did not respond to the Daily Beast’s request for comment.) Watson, the public face of Ozy, is facing a swift fallout since the Times column dropped. On Monday, A&E cable network canceled the broadcast of Watson’s program, Voices Magnified: Youth Digital Crisis, and organizers of the Emmy Awards for news and documentaries announced Wednesday that the Ozy chief would no longer host. “Carlos Watson has graciously reached out to us and asked to be removed from his hosting duties…so as not to distract the focus from the talented nominees,” an Emmys spokesperson said in a statement. And NPR, where Watson has sat on the board since 2016, is looking into the matter. “Our board is aware of the NYT story,” the network said Wednesday, “and consistent with our corporate governance, the governance committee will be considering these developments.”

Marc Lasry, a member of Ozy’s board, hedge fund manager, and a co-owner of the Milwaukee Bucks, responded to the Times report by saying, “The board was made aware of the incident, and we fully support the way it was handled. The incident was an unfortunate one-time event, and Carlos and his team showed the kind of compassion we would all want if any of us faced a difficult situation in our own lives.” And while Goldman Sachs is the seeming victim of what could be possibly construed as attempted securities fraud, the investment firm has yet to take legal action against Ozy. Though, Google’s security division did look into the incident further and the YouTube parent company eventually alerted the FBI, according to two sources who spoke to the Times. (The FBI will not confirm or deny the existence of any investigation.) Goldman Sachs has since been contacted by federal law enforcement officials, but investigators have not reached out to Ozy, per Watson.

Meanwhile, former BBC anchor Katty Kay, one of Ozy’s most high-profile stars, announced her decision to leave the company on Wednesday. “I had recently joined the company after my long career at the BBC, excited to explore opportunities in the digital space,” Kay wrote in a Twitter statement. “I support the mission to bring diverse stories and voices to the public conversation. But the allegations in The New York Times, which caught me by surprise, are serious and deeply troubling, and I had no choice but to end my relationship with the company.”

More Great Stories From Vanity Fair       

— An Exeter Teacher Was Punished for Sexual Misconduct. The Student Says It Never Happened
— Surprise: Ivanka, Eric, and Donald Trump Jr. Are Still Mooching Off U.S. Taxpayers
— Florida Governor Celebrates Ban on School Mask Mandates as More Kids Die From COVID
— Billionaire Leon Black Allegedly Raped a Woman in Epstein’s New York Mansion
— Trump Is Reportedly “Laying the Groundwork” for a 2024 Run
— A Photographer Reckons With Her Family’s Trump Adoration
— Biden’s COVID Vaccination Strategy Triggers Full-Scale Republican Meltdown
— The Right’s War on COVID Vaccine Mandates Is About to Get Scary
— From the Archive: Martin Shkreli’s Poison Pill
— Not a subscriber? Join Vanity Fair to receive full access to VF.com and the complete online archive now.

Adblock test (Why?)

728x90x4

Source link

Continue Reading

Media

What to stream this weekend: ‘Civil War,’ Snow Patrol, ‘How to Die Alone,’ ‘Tulsa King’ and ‘Uglies’

Published

 on

 

Hallmark launching a streaming service with two new original series, and Bill Skarsgård out for revenge in “Boy Kills World” are some of the new television, films, music and games headed to a device near you.

Also among the streaming offerings worth your time as selected by The Associated Press’ entertainment journalists: Alex Garland’s “Civil War” starring Kirsten Dunst, Natasha Rothwell’s heartfelt comedy for Hulu called “How to Die Alone” and Sylvester Stallone’s second season of “Tulsa King” debuts.

NEW MOVIES TO STREAM SEPT. 9-15

Alex Garland’s “Civil War” is finally making its debut on MAX on Friday. The film stars Kirsten Dunst as a veteran photojournalist covering a violent war that’s divided America; She reluctantly allows an aspiring photographer, played by Cailee Spaeny, to tag along as she, an editor (Stephen McKinley Henderson) and a reporter (Wagner Moura) make the dangerous journey to Washington, D.C., to interview the president (Nick Offerman), a blustery, rising despot who has given himself a third term, taken to attacking his citizens and shut himself off from the press. In my review, I called it a bellowing and haunting experience; Smart and thought-provoking with great performances. It’s well worth a watch.

— Joey King stars in Netflix’s adaptation of Scott Westerfeld’s “Uglies,” about a future society in which everyone is required to have beautifying cosmetic surgery at age 16. Streaming on Friday, McG directed the film, in which King’s character inadvertently finds herself in the midst of an uprising against the status quo. “Outer Banks” star Chase Stokes plays King’s best friend.

— Bill Skarsgård is out for revenge against the woman (Famke Janssen) who killed his family in “Boy Kills World,” coming to Hulu on Friday. Moritz Mohr directed the ultra-violent film, of which Variety critic Owen Gleiberman wrote: “It’s a depraved vision, yet I got caught up in its kick-ass revenge-horror pizzazz, its disreputable commitment to what it was doing.”

AP Film Writer Lindsey Bahr

NEW MUSIC TO STREAM SEPT. 9-15

— The year was 2006. Snow Patrol, the Northern Irish-Scottish alternative rock band, released an album, “Eyes Open,” producing the biggest hit of their career: “Chasing Cars.” A lot has happened in the time since — three, soon to be four quality full-length albums, to be exact. On Friday, the band will release “The Forest Is the Path,” their first new album in seven years. Anthemic pop-rock is the name of the game across songs of love and loss, like “All,”“The Beginning” and “This Is the Sound Of Your Voice.”

— For fans of raucous guitar music, Jordan Peele’s 2022 sci-fi thriller, “NOPE,” provided a surprising, if tiny, thrill. One of the leads, Emerald “Em” Haywood portrayed by Keke Palmer, rocks a Jesus Lizard shirt. (Also featured through the film: Rage Against the Machine, Wipers, Mr Bungle, Butthole Surfers and Earth band shirts.) The Austin noise rock band are a less than obvious pick, having been signed to the legendary Touch and Go Records and having stopped releasing new albums in 1998. That changes on Friday the 13th, when “Rack” arrives. And for those curious: The Jesus Lizard’s intensity never went away.

AP Music Writer Maria Sherman

NEW SHOWS TO STREAM SEPT. 9-15

— Hallmark launched a streaming service called Hallmark+ on Tuesday with two new original series, the scripted drama “The Chicken Sisters” and unscripted series “Celebrations with Lacey Chabert.” If you’re a Hallmark holiday movies fan, you know Chabert. She’s starred in more than 30 of their films and many are holiday themed. Off camera, Chabert has a passion for throwing parties and entertaining. In “Celebrations,” deserving people are surprised with a bash in their honor — planned with Chabert’s help. “The Chicken Sisters” stars Schuyler Fisk, Wendie Malick and Lea Thompson in a show about employees at rival chicken restaurants in a small town. The eight-episode series is based on a novel of the same name.

Natasha Rothwell of “Insecure” and “The White Lotus” fame created and stars in a new heartfelt comedy for Hulu called “How to Die Alone.” She plays Mel, a broke, go-along-to-get-along, single, airport employee who, after a near-death experience, makes the conscious decision to take risks and pursue her dreams. Rothwell has been working on the series for the past eight years and described it to The AP as “the most vulnerable piece of art I’ve ever put into the world.” Like Mel, Rothwell had to learn to bet on herself to make the show she wanted to make. “In the Venn diagram of me and Mel, there’s significant overlap,” said Rothwell. It premieres Friday on Hulu.

— Shailene Woodley, DeWanda Wise and Betty Gilpin star in a new drama for Starz called “Three Women,” about entrepreneur Sloane, homemaker Lina and student Maggie who are each stepping into their power and making life-changing decisions. They’re interviewed by a writer named Gia (Woodley.) The series is based on a 2019 best-selling book of the same name by Lisa Taddeo. “Three Women” premieres Friday on Starz.

— Sylvester Stallone’s second season of “Tulsa King” debuts Sunday on Paramount+. Stallone plays Dwight Manfredi, a mafia boss who was recently released from prison after serving 25 years. He’s sent to Tulsa to set up a new crime syndicate. The series is created by Taylor Sheridan of “Yellowstone” fame.

Alicia Rancilio

NEW VIDEO GAMES TO PLAY

— One thing about the title of Focus Entertainment’s Warhammer 40,000: Space Marine 2 — you know exactly what you’re in for. You are Demetrian Titus, a genetically enhanced brute sent into battle against the Tyranids, an insectoid species with an insatiable craving for human flesh. You have a rocket-powered suit of armor and an arsenal of ridiculous weapons like the “Chainsword,” the “Thunderhammer” and the “Melta Rifle,” so what could go wrong? Besides the squishy single-player mode, there are cooperative missions and six-vs.-six free-for-alls. You can suit up now on PlayStation 5, Xbox X/S or PC.

— Likewise, Wild Bastards isn’t exactly the kind of title that’s going to attract fans of, say, Animal Crossing. It’s another sci-fi shooter, but the protagonists are a gang of 13 varmints — aliens and androids included — who are on the run from the law. Each outlaw has a distinctive set of weapons and special powers: Sarge, for example, is a robot with horse genes, while Billy the Squid is … well, you get the idea. Australian studio Blue Manchu developed the 2019 cult hit Void Bastards, and this Wild-West-in-space spinoff has the same snarky humor and vibrant, neon-drenched cartoon look. Saddle up on PlayStation 5, Xbox X/S, Nintendo Switch or PC.

Lou Kesten

Source link

Continue Reading

Media

Trump could cash out his DJT stock within weeks. Here’s what happens if he sells

Published

 on

Former President Donald Trump is on the brink of a significant financial decision that could have far-reaching implications for both his personal wealth and the future of his fledgling social media company, Trump Media & Technology Group (TMTG). As the lockup period on his shares in TMTG, which owns Truth Social, nears its end, Trump could soon be free to sell his substantial stake in the company. However, the potential payday, which makes up a large portion of his net worth, comes with considerable risks for Trump and his supporters.

Trump’s stake in TMTG comprises nearly 59% of the company, amounting to 114,750,000 shares. As of now, this holding is valued at approximately $2.6 billion. These shares are currently under a lockup agreement, a common feature of initial public offerings (IPOs), designed to prevent company insiders from immediately selling their shares and potentially destabilizing the stock. The lockup, which began after TMTG’s merger with a special purpose acquisition company (SPAC), is set to expire on September 25, though it could end earlier if certain conditions are met.

Should Trump decide to sell his shares after the lockup expires, the market could respond in unpredictable ways. The sale of a substantial number of shares by a major stakeholder like Trump could flood the market, potentially driving down the stock price. Daniel Bradley, a finance professor at the University of South Florida, suggests that the market might react negatively to such a large sale, particularly if there aren’t enough buyers to absorb the supply. This could lead to a sharp decline in the stock’s value, impacting both Trump’s personal wealth and the company’s market standing.

Moreover, Trump’s involvement in Truth Social has been a key driver of investor interest. The platform, marketed as a free speech alternative to mainstream social media, has attracted a loyal user base largely due to Trump’s presence. If Trump were to sell his stake, it might signal a lack of confidence in the company, potentially shaking investor confidence and further depressing the stock price.

Trump’s decision is also influenced by his ongoing legal battles, which have already cost him over $100 million in legal fees. Selling his shares could provide a significant financial boost, helping him cover these mounting expenses. However, this move could also have political ramifications, especially as he continues his bid for the Republican nomination in the 2024 presidential race.

Trump Media’s success is closely tied to Trump’s political fortunes. The company’s stock has shown volatility in response to developments in the presidential race, with Trump’s chances of winning having a direct impact on the stock’s value. If Trump sells his stake, it could be interpreted as a lack of confidence in his own political future, potentially undermining both his campaign and the company’s prospects.

Truth Social, the flagship product of TMTG, has faced challenges in generating traffic and advertising revenue, especially compared to established social media giants like X (formerly Twitter) and Facebook. Despite this, the company’s valuation has remained high, fueled by investor speculation on Trump’s political future. If Trump remains in the race and manages to secure the presidency, the value of his shares could increase. Conversely, any missteps on the campaign trail could have the opposite effect, further destabilizing the stock.

As the lockup period comes to an end, Trump faces a critical decision that could shape the future of both his personal finances and Truth Social. Whether he chooses to hold onto his shares or cash out, the outcome will likely have significant consequences for the company, its investors, and Trump’s political aspirations.

728x90x4

Source link

Continue Reading

Media

Arizona man accused of social media threats to Trump is arrested

Published

 on

Cochise County, AZ — Law enforcement officials in Arizona have apprehended Ronald Lee Syvrud, a 66-year-old resident of Cochise County, after a manhunt was launched following alleged death threats he made against former President Donald Trump. The threats reportedly surfaced in social media posts over the past two weeks, as Trump visited the US-Mexico border in Cochise County on Thursday.

Syvrud, who hails from Benson, Arizona, located about 50 miles southeast of Tucson, was captured by the Cochise County Sheriff’s Office on Thursday afternoon. The Sheriff’s Office confirmed his arrest, stating, “This subject has been taken into custody without incident.”

In addition to the alleged threats against Trump, Syvrud is wanted for multiple offences, including failure to register as a sex offender. He also faces several warrants in both Wisconsin and Arizona, including charges for driving under the influence and a felony hit-and-run.

The timing of the arrest coincided with Trump’s visit to Cochise County, where he toured the US-Mexico border. During his visit, Trump addressed the ongoing border issues and criticized his political rival, Democratic presidential nominee Kamala Harris, for what he described as lax immigration policies. When asked by reporters about the ongoing manhunt for Syvrud, Trump responded, “No, I have not heard that, but I am not that surprised and the reason is because I want to do things that are very bad for the bad guys.”

This incident marks the latest in a series of threats against political figures during the current election cycle. Just earlier this month, a 66-year-old Virginia man was arrested on suspicion of making death threats against Vice President Kamala Harris and other public officials.

Continue Reading

Trending