Core Insights - HBI Innovations, founded by Josh Kesselman, acquired High Times magazine for approximately $3.5 million in June 2025, aiming to revitalize the publication and restore its former reputation [1][3][10] Company Overview - HBI Innovations is recognized for its high-quality rolling papers, particularly the RAW® brand, which generates an estimated $1 billion in annual retail revenue globally [4][6] - High Times, established in 1974, has a storied history with notable contributors but faced challenges after a private equity takeover in 2017, leading to overexpansion and a loss of trust within the cannabis community [3][4] Strategic Vision - Kesselman intends to reinvent High Times for contemporary audiences, focusing on elevating human consciousness rather than profit [4] - Plans include the introduction of podcasts, short-form videos, and medium-form documentaries to engage modern readers [8] Community Engagement - The revival of the iconic Cannabis Cup is planned for next year, where judges will evaluate various marijuana strains, emphasizing the publication's historical role in cannabis culture [10]