April 6, 2020

High Times Lays Off Staff And Shutters Acquired Magazine

April 6, 2020
Image of the DOW Jones Industrial average; find out if High Times Magazine 2019 will go public.
High Times Lays off Staff and Shutters Two of its Acquired Magazines

High Times magazine has been a staple of cannabis culture since the 1970s with the High Times logo instantly recognizable by stoners everywhere despite their hazy memories. However, dwindling print media and the recent coronavirus pandemic have caused the marijuana lifestyle publication to fall on hard times. In April, High Times Holding Executive Chairman, Adam Levin, announced that the company would temporarily suspend 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. 

Dope magazine and Culture magazine, acquired by High Times in recent years, ceased circulation as writers have been laid off. High Times magazine has also let go of most of its publishing staff, including the ever popular, Danny Danko. “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 (retailers, pharmacies , etc), we made the decision to suspend publishing till then.” 

Is High Times Still Publishing?

While High Times released a print issue in April at the beginning of the pandemic, it hasn’t released an issue since, and it’s unclear if the company will resume print publication after the pandemic. While rumors circulate about High Times halting print production, a spokesperson for the company stated, “The April edition of High Times magazine, which has been publishing print content on cannabis culture since 1974, has already been released and the publication will continue to be printed in the months to come.” Only time will tell. 

High Times Magazine

To deal with declining interest in print publication, The High Times weed-culture magazine has made attempts recently to diversify and become less dependent on advertising revenue. High Times recently purchased a cannabis cultivation company, Humboldt Heritage, and plans to open cannabis dispensaries in Los Angeles and Las Vegas. In addition to these endeavors, High Times originally scheduled 35 different Cannabis Cups and other festivals throughout 2020, but the coronavirus is likely to impede or cancel these productions. While it’s always advantageous to diversify from a business perspective, the actions of High Times could also be interpreted as a strategy to compensate for the print publication fallout. 

Will High Times Go Public? and How Much is High Times Magazine Worth?

Picture of the Dow Jones Industrial average results for High Times Magazine 2019: Will it completely go public?

As medical and recreational cannabis legalization spreads throughout the U.S., High Times has tried to capitalize on the moment through a mini initial public offering (IPO). The company has received its official stock ticker symbol (HITM), but it hasn’t scheduled a date for High Times to start trading shares. According to Forbes, “Investors can purchase High Times stock for a minimum of $99, valuing the money-losing company at $11 per share or $225 million.”

High Times Writers

WriterTitlePopular Work
Danny DankoSenior Cultivation Editor Selected annual Top 10 Strains of the Year since 2005, founder of the High Times Seed Bank Hall of Fame
Jon GettmanCannabis Policy Director Long-time contributor
Bobby BlackSenior Editor Author of Almost Famous column and creator of the Miss High Times contest
Tanja M. LadenEditorWrites the Space Case column and manages the Flashback Friday and High Times Greats columns

Who is the CEO of High Times?

High Times Holding Corporation, the owner of High Times magazine, recently appointed Peter Horvath as the new chief executive officer and board member of High Times magazine. Horvath was once the chief commercialization officer for American Eagle Outfitters and the chief operating officer for Victoria’s Secret. 

Who Bought High Times?

In 2017, High Times was bought by a group of investors led by Oreva Capital. Adam Levin became the Managing Director of the Oreva Capital Corporation in 2016, and he oversaw the acquisition of High Times in 2017. Since then, Levin has become the founder and Executive Chairman of High Times Holding, which owns High Times magazine. 
With the latest digital media quickly rendering print media obsolete, the last thing companies like High Times need is a pandemic discouraging people from touching physical objects like magazines. Yet, here we are lamenting the nearly assured extinction of our beloved stoner rag. Hopefully, we won’t see High Times magazine go completely up in smoke.

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