Josh Kesselman (RAW) buys High Times for $3.5 million $

For almost 50 years, High Times is a benchmark for cannabis cultivation, embodying the rebellious spirit that has defined generations of enthusiasts, activists and free thinkers.

Founded in 1974 by Thomas Forçade, a bootlegger and radical publisher, the magazine has become synonymous with defiance of prohibition, blending investigative journalism, political activism and an uncompromising celebration of the plant.

Interviews with icons such as Bob Marley and Hunter S. Thompson have graced his pages, making him a worldwide reference for cannabis enthusiasts.

A slow fall

As the cannabis legalization progressed, High Times had difficulty adapting to a rapidly changing environment.

After being acquired in 2017 by a group of investors led by Adam Levin, the brand took a radical turn towards aggressive commercial expansion, with the acquisition of dispensaries and planned IPOs.

According to MJBizDaily, more than 20,000 investors participated, many of whom never received shares or clear answers, as the company failed to comply with SEC disclosure requirements and came under legal scrutiny. In 2023, Levin pleaded guilty to conspiracy to commit securities fraud.

The magazine, once a vibrant cultural platform, has been reduced to sporadic publications, mounting debts and a series of unsuccessful business deals.

«We saw something we loved turn into a business plan. A bad plan,» a former editor told High Times anonymously. By mid-2024, with its parent company Hightimes Holding Corp. in receivership, the brand's future looked bleak.

Back to basics

Then a lifeline arrived. In an all-cash transaction valued at 3.5 million dollars, Josh Kesselman, founder of the world-famous RAW Rolling Papers, and Matt Stang, former High Times executive, acquired the intellectual property of the magazine, including its flagship events Cannabis Cup. Kesselman has also committed to invest 1.85 million dollars to relaunch the brand, focusing on restoring its original spirit.

«I'm doing it for the community that raised me!» said Kesselman on LinkedIn, adding, «Let's unite to fight the lies and misinformation generated by money. The plant is the truth, and the plant will prevail.»

Kesselman's background is similar to Forçade's: both are unconventional entrepreneurs driven by a deep personal connection to cannabis culture. What began for Kesselman as a head shop in Gainesville, Florida, turned into a RAW, a brand known for its unbleached, vegan rolling papers and its genuine commitment to the smoking community.

Rebuilding the legacy

Kesselman and Stang now aim to bring back High Times to its cultural origins.

Their return strategy extends both to print and digital media. The magazine will return in limited and collector's editions with in-depth features, while the revamped digital presence will offer podcasts, expert commentary and community testimonials. Decades of archival content will be digitized, bringing to life a rich heritage of cannabis culture history.

The Cannabis Cup will also make a comeback with new transparency measures, including an independent jury and the elimination of the «pay-to-play» models that marred its credibility under the previous management.

«When you remove private funds and investors, when there are only a few people left trying to do something for culture, the possibilities become limitless,» Kesselman emphasized.

Preserving a cultural pillar

With the proliferation of media devoted to cannabis since its legalization, few brands have the seriousness and authenticity of High Times. For Josh, who discovered cannabis cultivation through the magazine, this revival is more than just a business venture: it's a personal mission to preserve a pillar of the movement.

«We had no business plan, just a deep need to preserve what the magazine stood for,» he told CannaReporter.

In many ways, the resurrection of High Times marks a rejection of the profit-driven mentality that nearly destroyed it. Instead, Kesselman and Stang propose a vision rooted in passion, community and authenticity, a return to what made High Times the the most enduring voice of the cannabis counterculture.