High Times is a wide-reaching marijuana-centric brand which has extended well beyond its famous print magazine to its numerous annual Cannabis Cup events across the country and a successful website. But facing competition from other sites and brands as weed becomes more and more widely legalized, the company, active since 1974, has sold its interests to a group of investors that includes Bob Marley’s youngest son: the musician and noted weed entrepreneur Damien “Jr. Gong” Marley. The total price tag was $70 million.
Of the sale, Marley had this to say: “When I was in high school I used to grow some herb. 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.”
In a statement, the new owners claimed they hoped to expand High Times further into a “multiplatform entertainment company.” Other investors included Colorado pot retailers Denver Relief. Read more about the details of the sale over at The San Francisco Chronicle.