CNN Business Announces Cannabis Initiative
CNN Business on Friday launched a new content initiative focused on the cannabusiness sector. CNN Business said they are making a fresh investment to cover every aspect of the cannabis industry, from innovation to regulation. The press release said that the outlet would cover the rules governing the economics of the industry. Although 33 states have legalized some form of cannabis use, the Justice Department still views it as illegal which puts states at odds with the federal government. The industry is projected to balloon to $50 billion by 2026, and its job market is projected to grow 700% by next year. There was no mention in the press release, however, of covering the economic and racial inequality in the multi-billion dollar industry. Its growth has come at the expense of millions of people, who are overwhelmingly Black and Brown, handicapped by a criminal record tied to low-level marijuana possession. Many remain incarcerated. A majority of African Americans and Latinxs are seeing no material benefit from the nation’s thriving cannabis industry. The new cannabusiness initiative will be based in CNN Business’ San Francisco bureau and use daily articles, videos, and data-driven special reports to cover multiple angles of the industry. Latinxs comprise 15% of the city’s population and African Americans comprise 5.3%. CNN was recently criticized by the National Association of Black Journalists for having no Black executives in their Senior Ranks, including on the editorial side of the business. More here.