Damian Marley and investors purchase High Times magazine

Posted on June 1st, 2017 by Global Ganja Report and tagged , , , , , , , .

High TimesDamian Marley, youngest son of late reggae superstar Bob Marley, has joined with a group of Colorado cannabis entrepreneurs associated with the firm Denver Relief to buy controlling interest in High Times magazine, the counterculture icon with a valuation of $70 million. According to the San Francisco Chronicle, the deal includes websites, publishing and the Cannabis Cup trade shows and competitions.

"High Times is the Coca-Cola of cannabis," said Adam Levin, founder of Los Angeles investment firm Oreva Capital, who led the acquisition. "We see the opportunity as a diversified media company, to bring High Times from the authority in the counterculture movement to a modern media enterprise."

High Times claims some 236,000 monthly print subscribers, while its digital properties garner more than 20 million unique visitors monthly, Levin said.

Marley hailed the magazine as influential in his life.  "When I was in high school I used to grow some herb," he said in a press release. “I learned to differentiate male from the female plant by reading High Times magazine. It is now an honor to be a part of the High Times legacy that I've been a fan of for so many years."

The business will now be operating under name of the High Times Holding Company (HTHC)—an obvious play on the psychoactive compound in cannabis, Tetrahydrocannabinol (THC). It was previously the Trans-High Corporation.

High Times was founded in 1974 by the legendary radical publisher Tom Forcade (refered to by the Chronicle as an "outlaw cannabis smuggler," although not actually named), and shepherded after Forcade's death by his attorney Michael Kennedy, until Kennedy's own death last year.

The magazine recently moved from longtime home New York to new offices in Los Angeles.



High Times suspends publication

Bill Weinberg's picture High Times magazine is suspending publication of its print edition, ostensibly in response to the COVID-19 pandemic. But High Times Holding Company is obviously facing other troubles. Its effort to go public has also met obstacles. The SEC ordered it to halt stock sales this month due to incomplete financial filings. The company is on its third CEO in a year, and the current one, Peter Horvath, has background in retail not media. This is in line with its strategy of buying up California dispensaries—but this too is meeting with controversies. See coverage at CelebStoner and Muggelhead.
Comment by Bill Weinberg on Jul 20th, 2020 at 2:44 pm

An in-depth look at the decline of High Times...

Bill Weinberg's picture ...is provided by Politico, which quotes an unnamed former editor saying: "High Times has become very emblematic of the corporatization of cannabis. I can think of no better symbol than what has happened to it."
Comment by Bill Weinberg on Sep 4th, 2020 at 4:27 pm

High Times resumes publication

Bill Weinberg's picture Hightimes Holding Corp, parent of High Times magazine, suspended publication of the historic monthly print edition due to COVID-19. Following the April issue, no additional issues were published until subscribers unexpectedly began receiving the September issue with a black & white photo of Tommy Chong on the cover. The  hiatus marked the longest stretch without new print issues since the magazine was launched in 1974 by Tom Forcade. (CelebStoner)
Comment by Bill Weinberg on Oct 10th, 2020 at 1:36 am

'Discredited' CEO becomes new boss at High Times

Bill Weinberg's picture High Times has been sold to British Columbia-based psychedelics firm Lucy Scientific Discovery (for LSD) headed by "disgraced" Hollywood executive Richard Nanula, tainted by multiple sex scandals. (CelebStoner)
Comment by Bill Weinberg on Sep 8th, 2023 at 5:51 pm

High Times assets to be sold

Global Ganja Report's picture The once-iconic brand High Times is now selling off its assets in order to satisfy the lenders it didn’t pay back. Despite owning several dispensary licenses in California and a popular website, High Times neglected to pay back the $28.8 million it owed to ExWorks the company that helped Adam Levin and his investors buy the property. That company went into receivership, triggering a chain of events that put the High Times assets up for sale. (Green Market Report)
Comment by Global Ganja Report on May 6th, 2024 at 1:27 pm

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