Ozy Media CEO Carlos Watson says the company will not shut down after all

The chief executive of Ozy Media on Monday called the company's announcement last week that it was shutting down "premature." The CEO, Carlos Watson, said the company would continue to operate following meetings with advertisers and investors.

"We have something special here," Watson told CNBC on Monday morning.

On Friday, the board of directors of Ozy emailed a statement saying the company was ceasing operations 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 company had 75 employees, according to Axios.