How This Trump Adviser Still Makes Money from ‘Seinfeld’

Steve Bannon, Donald Trump’s new chief advisor, became one of the most prominent figures in American media by leading Breitbart, a conservative-leaning news. He’s less known for his unique role in the history of the TV series “Seinfeld.”

Long before he became the chief strategist of Donald Trump’s White House and the executive chairman of Breitbart News, Bannon was an investment banker. After a stint at Goldman Sachs, he launched his own firm, Bannon & Co., in 1990.

Fast forward a few years. Bannon was brought in to help Westinghouse Electric negotiate a minority stake acquisition in Castle Rock Entertainment — the producer of the iconic Jerry Seinfeld comedy — a person familiar with the deal told TheWrap.

“As often happened with Turner, when it came time to actually close the deal, Ted was short of cash,” Bannon told Bloomberg in 2015. “Westinghouse just wanted out. We told them, ‘You ought to take this deal. It’s a great deal.’ And they go, ‘If this is such a great deal, why don’t you defer some of your cash fee and keep an ownership stake in a package of TV rights?’”

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