High Times magazine is the most well-known brand in cannabis and is the leading source for cannabis news, information, and culture globally. HighTimes Holding Corp Executive Chairman Adam Levin provides an overview of the company and an update on recent acquisitions. High Times has acquired key players in the cannabis media space such as Culture, Green Rush Daily, and Dope Magazine. Levin stresses that High Times is more than a media company and shares details of the company’s definitive agreement to buy Feria Del Canamo, S.L. (Spannabis), the largest cannabis trade conference in Europe. These deals ensure that High Times has the largest cannabis audience on the internet, with its publishing portfolio reaching 22 million cannaconsumers. In addition to its publishing assets, the company’s revenue model includes ancillary products, merchandise, B2B trade shows, and concert and event promotion, including the Cannabis Cup. The company is currently undergoing a Regulation A+ offering and Levin is thrilled High Times has secured over 20,000 retail shareholders, as he anticipates the company going public this quarter.
Narrator: High Times is a monthly magazine and cannabis brand with offices in Los Angeles and New York City. The magazine was founded in 1974 by Tom Forcade and advocates for the legalization of cannabis. It has a circulation reach of 236,000 monthly print subscribers and over 500,000 monthly website views.
In 2017 High Times was acquired by Oreva Capital in a deal valued at $70 million.
James West: I’m joined now by Adam Levin. He’s the Executive Chairman of High Times Magazine, the best-known brand in cannabis in the world. Adam, welcome.
Adam Levin: Thank you so much for having me.
James West: You bet. I have been a reader of High Times on and off over the entire 44 year history. I’m 55, I started reading it when I was actually nine years old.
Adam Levin: Amazing. I love it.
James West: I learned how to grow cannabis from Ed Rosenthal, who was once one of the most prolific writers of High Times.
Adam Levin: Not only one of the most; I mean, he’s still prolific as it gets. He’s probably one of the biggest names.
James West: Yeah, he is. Actually I went and met him at his house and we shot an interview there that’s going –
Adam Levin: Did he share some of his stuff with you?
James West: He didn’t, because I was with all this film crew and everything. It wasn’t really copacetic, yeah. Okay, so you just led a group that has taken over High Times from previous management.
Adam Levin: I did that two years ago today. Since then, we’ve made seven acquisitions in the space. We’ve bought Culture, we’ve bought Dope Magazine and media properties, in addition, Green Rush Daily. We just announced a definitive agreement to buy Spannabis, the largest cannabis trade conference in Europe.
James West: Really?
Adam Levin: And announced recently that we signed definitives to buy The Big Show. Beyond that, we’ve, it’s been a busy two years, but we’ve done, I don’t know how familiar you are with a Reg-A IPO, it’s like a mini-IPO.
James West: Reg-A Plus?
Adam Levin: Reg-A Plus.
James West: Oh, I know Reg-A plus very well. An offshoot from the Jobs Act that gave companies the ability to raise up to $50 million without filing a prospectus.
Published: April 26, 2019
Founder & Interim Editor of L.A. Cannabis News