No Soup For You

Here’s how ‘Seinfeld’ reruns put money in Steve Bannon’s pockets

NBC

Thanks to a deal that he made 26 years ago in his previous life as an investment banker, Steve Bannon, a known white nationalist, gets a couple of coins for each and every single episode of Seinfeld that runs in syndication.

Long before he became the CEO of Donald Trump’s campaign and Breitbart News’ executive chairman, Bannon and some colleagues left their jobs at Goldman Sachs to launch Bannon & Co., a “boutique” firm that oversaw the Ted Turner’s acquisition of Castle Rock Entertainment, a production company founded in 1987.

According to Bloomberg Businessweek, while Turner was ready to make the purchase, he didn’t have the necessary funds to seal the deal and pay Bannon his requisite adviser’s fee. Rather than walking away from the transaction, Bannon opted to receive stakes in five of Castle Rock’s television shows, including “one in its third season regarded as the runt of the litter,” Seinfeld.

“We calculated what it would get us if it made it to syndication,” Bannon said in 2015. “We were wrong by a factor of five.”

So yes, technically speaking, every time you sit down and watch a Seinfeld rerun, you’re indirectly contributing to Bannon’s personal wealth and the Trump presidency. What’s that, you say? You don’t want to support a racist man who refers to feminists as a “bunch of dykes” and claims that being socially-progressive is all about self-victimization? So, watch Atlanta instead.