Categories: OLD Media Moves

Why CNBC reports about marijuana

Allen Wastler, the managing editor of CNBC.com, writes Tuesday about why the business news network is airing a special on the marijuana business tonight.

Wastler writes, “Fair question. Marijuana, after all, is an illegal commodity that some people argue causes a lot of social ills. Why promote it, or dignify it even, through coverage? On the other hand, others would say that the medical benefits and economic possibilities deserve even more study.

“Hey, we wouldn’t be serving our business news audience very well if we decided to ignore what we believe is a $40 billion industry. Rightly or wrongly, marijuana attracts dollars. And we follow the money.

“We also wouldn’t be doing our job if we didn’t look at what kind of return those dollars could make under different circumstances. And those circumstances are likely to change to some degree. Fourteen states allow medical marijuana. A dozen are considering decriminalization. California, one of the most influential states, is considering legalization. That kind of change deserves special attention, especially given the money involved.”