High Times magazine was founded 43 years ago in New York by Tom Forcade. This week, it was announced that a group of investors has acquired a majority stake in the property at an overall valuation of $70 million.
In the mix is Bob Marley’s youngest son, Damian who, via Keith J. Kelly, frames the deal with a colorful wraparound angle:
“When I was in high school I used to grow some herb,” Marley said. “I learned to differentiate the male from the female plant by reading High Times magazine.”
Kelly’s article, picking up on Jeremy Berke of Business Insider first reporting the news, is full of interesting details. The magazine is profitable, due we are guessing to its massive Cannabis Cup events and what surely must be vertiginous growth on the branded-content side. The New York Post media reporter also has the scoop on who will remain for now in the executive suite from the old regime, and who has recently moved on.
Denver Fox affiliate Channel 13 went with the wink headline “High Price Paid for High Times Magazine.” With medical and recreational marijuana quickly greening the U.S. of A., we also can’t help but loop back to Don Winslow’s fantastic 2016 Esquire piece about how the gradual American legalization of weed shifted the focus of the Mexican drug cartels to opioids and heroin. We touched on that article here.