A group of investors led by a Los Angeles investment firm have purchased a controlling stake in the oldest cannabis-centric magazine in the United States, High Times – along with its signature event, the Cannabis Cup – in a transaction valued at about $70 million.
The new owners have rebranded the company as High Times Holding Company (HTHC), according to a news release. Adam Levin, founder of the L.A. investment firm Orvea Capital, will serve as the interim CEO and chairman until a permanent chief executive is brought on.
While specifics of the sale to Oreva were not disclosed, Levin
Investors buy High Times, Cannabis Cup in $70M deal is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
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