In a shocking turn of events, High Times, one of the most iconic brands in cannabis history, is now in receivership. Once a trailblazer that brought cannabis culture to the forefront, High Times is being dismantled and sold off piece by piece.
A Legacy Unraveled
High Times was the pioneer of cannabis journalism, featuring legendary writers Hunter S. Thompson, William S. Burroughs, Charles Bukowski, Allen Ginsberg, and Truman Capote! And at their peak (1987), had a circulation of 500,000! However, the magazine industry’s decline since the mid-2000s hit it hard. The transition to digital was challenging, and High Times couldn’t keep up.
Diversification Gone Awry
In an attempt to stay relevant, High Times branched into retail stores, product brands, delivery services, and merchandise. Unfortunately, these ventures failed to capture the market, and the acquisition of Moxie did little to help. The website, once a beacon of cannabis culture, lost its substance and audience.
The Final Curtain
Despite its decline, High Times still holds significant brand recognition. Yet, its future remains uncertain as it’s stripped for parts by the same receiver who handled Herbl. Assets, including stores, a cultivation business, and intellectual property, are up for sale, with the total value potentially exceeding $11 million.
The Aftermath
The downfall of High Times serves as a stark reminder of the volatile nature of the cannabis industry. As the brand is auctioned off, the community is left pondering what could have been done differently. High Times’ story is a blend of pioneering success and cautionary failure—a lesson for all in the cannabis space.
High Times’ assets, including their West Hollywood store and 420.com, are now up for grabs. The deadline for bids is fast approaching, marking the end of an era for this legendary brand.
For more details, visit the full article on MJBizDaily.
