High Times, the 'Coca-Cola' of cannabis media, was acquired for $70 million by Damian Marley and a group of investors
Can’t believe they were acquired for $70m. Definitely a little more than I expected, but I’m sure they’re factoring in the earnings potential of their brands by advertising through their magazine for free. Wonder what times multiple of earnings they received i.e., what sort of net profit High Times magazine has per year.
Yeah I was a bit surprised as well. Definitely a good return just for ownership over the lifetime of the magazine, since 1974. That’s over a million a year in valuation increase since the beginning.
Looks like the new owners are now taking the company public: