Marijuana brand High Times to return after $3.5 million acquisition

Raw Rolling Papers founder Josh Kesselman and former High Times co-owner Matt Stang have acquired High Times magazine and the Cannabis Cups for $3.5 million in an all-cash deal, aiming to revitalize the brand's legacy. The acquisition includes plans to relaunch the Cannabis Cups with revamped judging, rebuild the digital platform, and produce limited-run collectible editions of the print magazine. Kesselman and Stang intend to position High Times as a leading authority on cannabis and psychedelics, commemorating its 50-year history.

Analysis

The cannabis-centric media brand High Times, along with its associated Cannabis Cups events, has been acquired for $3.5 million in an all-cash transaction by Josh Kesselman, founder of Raw Rolling Papers, and Matt Stang, a former co-owner of High Times. This acquisition follows the receivership of High Times' parent company, Hightimes Holding Corp., which put the intellectual property up for sale earlier this year. The new ownership plans a significant revitalization, including the reintroduction of the Cannabis Cups, expected early next year, with an emphasis on third-party judging and eliminating pay-to-play elements. Furthermore, Kesselman and Stang intend to rebuild High Times' digital platform to feature cannabis podcasts, experts, and community voices, alongside reintroducing the print magazine in limited-run, collectible editions. Their stated goal is to reposition High Times as a leading authority on both cannabis and psychedelics, leveraging its 50-year legacy to engage long-time fans and attract a new generation, signaling a strategic effort to restore a culturally significant brand within the cannabis space.

Key Decisions for Investors

• Investors with interests in the cannabis ancillary sector, particularly media and events, should monitor the execution of High Times' revitalization strategy, as its success could indicate renewed vigor in cannabis-focused media and consumer engagement.
• The planned relaunch of the Cannabis Cups with impartial, third-party judging could present new, credible marketing and validation opportunities for cannabis brands, shifting the competitive landscape for industry awards.
• The explicit strategy to develop High Times as an authority in the emerging psychedelics space warrants observation, as it may signal growing mainstream media interest and potential future investment or market development themes in that distinct sector.