All of us have been grateful for High Times magazine for one reason or another, at some point of our growing careers. Sure there have been a lot of “bongs and thongs” lately and arguably less focus on the plant itself, but for many of us, High Times poured the foundation of what we know as growers. It is on the shoulders of our giant friends at High Times that we bring you this very Grow Magazine today and with maximum respect to Tom, Michael, Ed, Steve, Jorge, Danny, Nico and the rest of the team historically that paved the road with blood, sweat and tears, sharing so much knowledge along the way.
It’s been a wild ride for the beloved O.G. of cannabis magazines for the last couple of years especially. In 2015 they hired veteran media executive Buzz Killington, a.k.a. David Kohl, formerly of Viacom, Vivendi, Nokia and Xbox before signing the four-year deal to head High Times. Kohl was hired to “…speak to the bottom line-oriented business…” according to then chairman Michael Kennedy. After just one year, the executive was fired when he demanded a more professional environment, he claims.
Shortly after the ax fell, Kohl fired back with a $6 million dollar lawsuit, damages for alleged severance pay he never received. This drama and the onslaught of new cannabis magazines stealing away market share, coupled with a hyper-critical online audience and numerous accusations that the magazine just isn’t what it used to be, showed signs that the media mogul might be slipping.
And now the rumors can officially be put to rest. Money talks, and $42 million dollars speaks loud and clear. Earlier this June, a team of investors at Oreva Capital, including Damian Marley, payed $42 mill for 60%, controlling interest of the publication and its online counterpart and catalog of Cannabis Cup events. The acquisition marks a new start for the enterprise and the chance to reconnect with the roots that made this title so legendary to so many of us. With Marley and a team of investors that know the industry better than anyone, the future looks bright for the publication and its affiliates, not to mention all of us that stand to benefit as readers, from all the wonderful content the promise of tomorrow holds.