Damian Marley, Others Buy Control of High Times

Damian Marley - Grammy Museum - Getty - H 2017
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A group of investors purchased a controlling interest in the magazine that is arguably cannabis' best-known brand name.

Put this in your pipe and smoke it.

A group of investors that includes reggae star Damian Marley has bought a controlling interest in High Times, the magazine that for decades has been the bible of pot smokers.

Adam Levin, the magazine's new CEO, said Thursday his group acquired a 60 percent stake in the magazine and its related ventures, including its popular Cannabis Cup trade shows.

The purchase price wasn't revealed, but Levin put High Times' value at $70 million.

His Los Angeles-based investment firm, Oreva Capital, specializes in acquiring undervalued media companies. Levin says that he, Marley and other partners believe they have acquired a gem in High Times.

The magazine, founded in 1974 by former drug smuggler Tom Forcade, is arguably cannabis' best-known brand name.