Pot publications are one of the few growth areas in media.
High Times Media said Thursday it is buying Green Rush Daily for $500,000 cash plus $6.4 million in stock.
GRD, a 3-year-old cannabis news website that bills itself as the official resource of daily news for all things weed, claims to pull in 9.5 million page views a month.
Meanwhile, Tom Florio, CEO of ENTtech Media, which last year purchased Paper magazine, said he is teaming with MedMen, a recreational marijuana company, to launch Ember, a custom-published print title.
Florio is handling the content for the custom-published quarterly distributed only in MedMen’s dispensaries in California and Nevada. MedMen will soon open a medical marijuana store on Fifth Avenue in Manhattan.
High Times is in the process of being acquired by Origo Acquisition Corp. in a $250 million all- stock deal.
Origo is a special-purpose acquisition company, also known as a blank-check company, because it raises money and then hunts for a worthy acquisition target.
Origo zeroed in on High Times last July with the plan to start publicly trading in October. But that deadline has been extended. Edward J. Fred, chairman of Origo, said he now expects to complete the deal on or before June 12.
The delay is due to problems getting the privately held High Times to adapt to public reporting requirements.
“Adam Levin will continue to run High Times,” Fred said.
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