Yes, Bob Marley's son is now an owner of 'High Times'
A group of investors including Damian Marley has purchased a majority stake in High Times, the marijuana-focused magazine, according to the San Francisco Chronicle.
The group, lead by private equity firm Oreva Capital, bought 60% of the company that owns and operates the magazine for $42 million. In addition to the magazine, the company runs the Cannabis Cup events series as well as the High Times website.
Damian Marley is the son of Reggae legend Bob Marley, as well as an active investor in marijuana businesses. In 2016, he started converting a former prison in California into a cannabis farm.
High Times was started in 1974 as the "Playboy of pot" and has remained one of the most recognizable media brands in the U.S. The magazine relocated its headquarters in early 2017 from Manhattan to Los Angeles, where marijuana laws are more relaxed.
The magazine and company have enjoyed a renaissance thanks to changing U.S. laws, which have also led to a surge in investments in marijuana-based businesses. The marijuana industry is projected to create more than 250,000 jobs by 2020.
Topics Cannabis
Jason Abbruzzese is a Business Reporter at Mashable. He covers the media and telecom industries with a particular focus on how the Internet is changing these markets and impacting consumers. Prior to working at Mashable, Jason served as Markets Reporter and Web Producer at the Financial Times. Jason holds a B.S. in Journalism from Boston University and an M.A. in International Affairs from Australian National University.
