Published Jun 02, 2017It seems everything's gonna be all right for the folks at High Times magazine, as the publication has just been acquired by a set of new investors — including Bob Marley's son, established reggae artist Damian Marley.
As the New York Times reports, the young Marley is part of a group of investors (led by Adam Levin) that have bought a controlling interest in the magazine. The publication was valued at $70 million USD.
High Times has followed the trajectory of marijuana from its subculture start to a thriving American trade, and the magazine's new ownership group say they plan to expand their audience, as well as the events segment of the business.
"I think most would agree it was not executing business at max potential under the legacy framework established by the founders," Levin said in a statement. "We are going to build on the strong base they created to bring High Times from the authority in the counterculture movement to a modern media enterprise."
The magazine initially launched back in 1974, displaying beautiful centrefold buds and offering readers tips for growing cannabis at home. It relocated headquarters to Los Angeles last year.
Marley himself claims he's been reading the publication since high school and issued a statement, which reads: "It is now an honour to be a part of the High Times legacy that I've been a fan of for so many years."
Marley has long been an advocate for the positive effects of marijuana use. Last year, he converted a former California prison into a pot farm, claiming "poetic justice" in creating a successful business venture out of the hardships faced by those previously locked up for marijuana-related offences.
His latest single is called "Medication," and it arrived earlier this year — on April 20, obviously. The accompanying video was released today (June 2), and you can check it out below.