High Times magazine announced that it has temporarily suspended the publication of two of its print magazines due to complications related to the supply chain and delivery service as a result of the coronavirus.
High Times magazine has also let go of most of its own publishing staff.
The well-known Danny Danko was among the major writers to be laid off.
The bad news: Due to Covid19 layoffs, my time at @HIGH_TIMES_Mag has come to an end. Thank you to my colleagues for an amazing 18 years! The good news: I'm relaunching the #FreeWeedPodcast! Please support us on our Patreon page by signing up as a patron: https://t.co/2wYbYpLINi
— DannyDanko (@DannyDanko) April 6, 2020
High Times co-owner supports Danko’s efforts.
“Danny’s podcast, like his green thumb and advice to growers over the years, will continue to be a huge contribution to the cannabis industry,” said Eleanora Kennedy, who along with her late husband Michael Kennedy, is one of High Times founders and a current co-owner.
“In these terrible times, we join in solidarity with all the workers who have lost their jobs and hope we can all be together on the other side of this tragic pandemic,” Kennedy told the Weed Blog.
“It will be good to get back to the basics – teaching people to grow,” Danko told the Weed Blog. “It’s all about growing cannabis. That’s how we all got started.”
Current High Times majority co-owner and Hightimes Holding Executive Chairman, Adam Levin, released a statement confirming the lay-offs among the Dope and Culture print staff until “the virus passes.”
“We furloughed the print publishing staff of Dope and Culture till the virus passes,” Levin said in a statement. “Since both mags are distributed through walk up distribution methods, we made the decision to suspend publishing till then.”
High Times Magazine, which has been publishing since 1974, has already released its April 2020 edition although many questions remain about future editions – with or without a pandemic raging through the country.
Rumors of bankruptcy and mishandling of investment funds have been rampant since the company, under Levin, launched the sale of its shares in preparation for an initial public offering (IPO), which has yet to materialize.
Unfortunately, High Times’ plan to go public has been rocky, as the company had accumulated a deficit of $105 million at the end of 2019.
As a result, like other media companies, High Times has sought to diversify.
In late March, Hightimes Holding, the parent company of High Times, announced it was moving into cannabis cultivation and processing with the acquisition of California-based Humboldt Heritage Inc. and its subsidiaries Humboldt Sun Growers Guild and Grateful Eight LLC.
High Times also announced recently that it would be launching two flagship dispensaries in Los Angeles and Las Vegas.