Wednesday, May 29, 2024

Will Changes At Fox News Help Marijuana Legalization?

It seems changes are coming to Fox News with the ouster of Tucker Carlson. Does it mean Fox may listen to a majority of their viewers and be a champion of the cannabis industry (or at least not a hurdle)? With the upheaval there, will changes at Fox News help marijuana legalization as a whole?

In a recent poll by CivicsScience, a Carnegie Mellon incubator spinout, showed 6 in 10 of Fox Views are open to marijuana legalization.  The survey highlights acceptance has gained a majority ground – even among an older population.

Pollsters Chris Anderson from Beacon Research has managed surveys around legalization and focused on where the country is heading..

According to Anderson:

This is a massive shift in opinion over a very short period. As more states legalize marijuana without the negative consequences opponents have warned about, support will likely continue to increase.

Despite the growing acceptance and approval of marijuana law reform, the Biden administration has been slow to come around and the President has been tentative, at best, in his support.  The previous administration moved in the opposite direction and the original Attorney General Jeff Session was almost fanatically opposed to any form of approval.  Fox News journalist were lukewarm toward legalization.

One segment took a different approach and that was Fox News Business. Since more states have legalized cannabis their reporters and anchors have been covering the market like it does automobiles, commodities, cypto, banking, etc.  Cheech, of Cheech and Chong, has been on to discuss legalization, marijuana economics and the business of weed. They have followed the ups (Canopy Grow) and the downs (MedMen, Tilray) and shared investing tips to loyal fans. Typical consumer focus articles include “Americans Spent More Money Legal Cannabis Than On Chocolate Or Beer“.

They have even taken a journalist approach to Congresswoman Nancy Mace’s advocating for marijuana legalization in Congress.  They have given her a voice to share her journey on how marijuana helped her after a tragic incident and how veterans can benefit for use.

According to Republican pollster Shaw:

When you look at the growing percentage of people who say they support legalizing marijuana, especially among those under 30 years of age, it’s obvious why the Democrats are anxious to get pot initiatives on the ballot in statewide elections.

If more opinion hosts depart Fox, will it help? Laura Ingaham has been a vocal opponent to legalization and has been know to paint a very different picture than the facts.  Fox will need to fine tune their news and opinion content to maintain or contain any fallout for the changes if they are to continue to be profitable.  With a 25% drop in the company’s value over the last year, it would seem doing more in line with their base would be a wise move.

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