High Times has been acquired by a group of 20 investors, the most famous of which is Damian Marley, son of the late legendary reggae musician Bob Marley. The group of investors acquired 60 percent interest in Trans-High Corp., the company that owns High Times, their digital platforms and the Cannabis Cup trade shows.
New High Times CEO Adam Levin thinks they are coming in at just the right time, as cannabis legalization as a whole has seen huge strides in the last few years and the legal weed industry is growing exponentially. Levin and his investment firm, Oreva Capital out of Los Angeles, spearheaded the deal. The High Times enterprise was valued at $70 million before the deal was finalized.
Trans-High Corp. will now be called High Times Holding Co. Levin and the High Times team will be transforming High Times into a ‘lifestyle brand’ as they revamp their approach to covering the various aspects of the culture, business and science of cannabis. One of their main focuses initially will be providing content directed at professionals who are interested in working in the cannabis industry in various roles.
Print media – including magazines – might be a dying art, as many have struggled within the past few years due to online competition. Despite this, High Times claims their print publication still has around 200,000 loyal subscribers; millions of users also read High Times online each month.
Perhaps the most lucrative area of the High Times brand though, is the Cannabis Cup trade shows. Back in 1988, three judges decided the winner out of four seed companies in an Amsterdam hotel room during the first ever Cannabis Cup. Twenty-nine years later, the event has grown into arguably the quintessential competition for marijuana growers and breeders. There are 11 Cannabis Cup events planned for 2017 alone, with each event attracting around 20,000 people.
In addition to being a reggae musician, Damian Marley is naturally a cannabis investor. In a statement, he says he read High Times when he was growing herb in high school to help him figure out which plants were male and female plants.
“High Times had me daydreaming of so many beautiful strains that at the time I had not yet had the chance to experience,” Marley said in a statement. “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.”
Damian Marley is Bob’s youngest son and one of ten biological Marley children. Damian has a new album coming out soon called “Stony Hill”.