Live Nation, Guggenheim Vet Kraig Fox Named CEO of High Times as IPO Approaches
By Roy Trakin
LOS ANGELES (Variety.com) – High Times Holding Corporation, which includes the long-running cannabis magazine of the same name, has appointed veteran media and live entertainment executive Kraig Fox President/CEO. Adam Levin, who has served as High Times CEO since its acquisition by High Times Holding Corp in 2017, will now serve as the company’s Executive Chairman.
High Times is raising a Regulation A+ funding in preparation for the public listing of its shares, expected this year, with more than 20,000 investors already on board.
Commented Levin: “Kraig’s operating and finance experience with public companies in the live entertainment, music and branding sectors makes him the ideal executive to take the High Times brand, our growing portfolio of assets and our business operations to the next level. As our operations expand globally, Kraig will provide both the personnel leadership and operational strategy to bring positive returns to those financially invested in the High Times brand. I couldn’t be more excited to have Kraig join us.”
Fox’s career has including being part of the founding team and senior executive officer group behind Live Nation, Core Media (“American Idol,” Elvis Presley, Muhammad Ali) and as Senior Managing Director of Entertainment and Media at Guggenheim Partners and, most recently, Eldridge Industries, with experience in the public markets arena and in mergers and acquisitions.
“I believe that High Times is the most valuable and recognizable global brand in the cannabis sector and I am thrilled to be leading this rapidly expanding organization,” Fox stated. “This is an exciting time for cannabis globally, and I’m thrilled to be at the helm of this portfolio of properties and brands as we continue to expand both organically and through acquisitions.
“As the leading ‘non-plant’ touching business in the industry, High Times is providing investors with an amazing opportunity to participate in the macro growth of cannabis. We plan on keeping our public offering open for a brief period as we conclude discussions with institutions and other major investors. Both the investor and cannabis communities recognize that High Times is uniquely positioned to empower the industry with positive long-term financial returns.”
High Times also owns and operates the Cannabis Cup and over the past two years has acquired several media brands, including Culture and Dope magazines and Green Rush Daily. The company has also launched a record label (with Urban Outfitters as distributor), a VOD platform and several licensing deals. The magazine recently held its High Times 100 event in Los Angeles , honoring the most influential people in the Cannabis business.
High Times has also entered into definitive agreements to acquire The Big Show, a leading U.S.-based cannabis conference and exposition and Spannabis, the largest cannabis conference in the world based in Barcelona, Spain.
“Our portfolio of complementary businesses excels at connecting cannabis consumers with a variety of brands,” Fox said. “This is a lucrative time for the global cannabis industry, the High Times brand and for all of our company stakeholders.”
