Damien Marley, the youngest son of Bob, and a private equity firm specializing in buyouts, Oreva Capital, have acquired a controlling interest in High Times magazine.
Founded the year Richard M. Nixon was forced to resign, High Times was recently valued at $70 million and is responsible for establishing the Cannabis Cup in Amsterdam and Colorado – as well as The High Times Medical Cannabis Cup held in medical marijuana states.
A go-to publication for all things cannabis in the early 70s, Marley and Oreva viewed the former High Times organization as “ill-equipped to roll up the massive opportunities for expansion,” according to TechCrunch.
“The best chance for High Times to fire up some more revenue could be expanding the Cannabis Cup to more states as legalization rolls across the US. Designed as a trade expo for local pot dispensaries and quality contest for growers, there are already 58 Cannabis Cup events each year.”
Rebranded as High Times Holding Company (HTHC), for their $42 million Oreva Capital and Damien Marley will get a controlling interest in High Times’ websites, publishing rights, and their marijuana-centric trade shows and competitions.