Marijuana media giant High Times sells majority stake for ~$42 million

Evrard Martin
Juin 2, 2017

Damian "Junior Gong" Marley, whose forthcoming reggae album is appropriately titled "Stony Hill", is one of 20 investors who announced Thursday they have acquired 60 percent interest in Trans-High Corp., owner of High Times, its digital platforms and its popular Cannabis Cup trade shows.

High Times, one of the oldest cannabis-centric media companies, was acquired by a group of investors including Damian Marley. The mag is reportedly worth around $70 million.

Damian adds, "High Times had me daydreaming of so many lovely strains that at the time I had not yet had the chance to experience".

Damian says reading HT taught him how to differentiate between male and female cannabis plants.

THC (the acronym is the same as that of marijuana's key ingredient) will be renamed High Times Holding Co.

Screen Shot
Damian Marley New co-owner

Adam Levin will take over as CEO for High Times.

His Los Angeles-based investment firm, Oreva Capital, specializes in acquiring undervalued media companies.

According to Levin, the plans for building up High Times Holding Company (HTHC) include boosting the well-known global High Times Cannabis Cup, which debuted in 1988 and is held in multiple locations each year, and creating new events.

In the statement, Levin said: "To say we are bullish about the opportunities to expand High Times would be an understatement". It has a print circulation of 236,000 subscriptions and reaches 20 million unique views with its digital presence, as of this year. "We plan to do even more events outside of High Times like Business Summits". What began as a single, somewhat clandestine meeting in an Amsterdam hotel room in 1988 has grown to 11 events this year. Perhaps its most lucrative source of income, however, is its Cannabis Cup trade shows at which prizes are awarded for the best buds. The new ownership group also includes cannabis-related organizations stretching across the U.S. "We are going to build on the strong base of support and recognition established by the founders to shepherd the evolution of High Times from the authority in the counterculture movement to a modern media enterprise".

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