Postmedia invests in U.S. digital cannabis media company
TORONTO — Postmedia Network Inc. has announced an investment in a cannabis media property to help Canadian companies better market their brands in a highly restrictive environment. Los Angeles-based PRØHBTD Media Inc., which has offices in Toronto and Vancouver, is a digital media company that focuses on cannabis lifestyle content, with more than two million unique visitors per month.
The partnership will see Postmedia and PRØHBTD work with cannabis companies to produce videos and other marketing initiatives. Financial terms were not disclosed.
“Our investment in PRØHBTD reinforces Postmedia’s commitment to being at the forefront of the cannabis content and solutions space in Canada,” Andrew MacLeod, president and chief operating officer of Postmedia, said in a news release.
The company said that access to PRØHBTD’s video capabilities and content library will bolster Postmedia’s existing video offerings. They will be available exclusively in Canada on The GrowthOp, the company’s cannabis editorial brand, in addition to its 140 other network channels.
“This exclusive partnership accelerates our ability to help cannabis companies in Canada tell their stories and engage consumers,” said Drake Sutton-Shearer, CEO of PRØHBTD. “Postmedia truly understands the market and, together, we’ll help the companies that matter to stand out above the noise.”