Steve Bannon receives a portion of the revenues from hit ’90s comedy “Seinfeld” after his company consulted on a sale to Ted Turner.
NEW YORK DAILY NEWS
Thursday, November 17, 2016, 6:20 PM
Director Rob Reiner still can’t believe Steve Bannon is earning money for “Seinfeld.”
“It’s crazy. When I first heard about it, it made me sick. It makes me sick. Because I had no idea. I didn’t know who he was, or that he was representing Westinghouse,” Reinertold The Daily Beast. “So there you have it. I think The Huffington Post had the headline right: ‘Trump Hires a White Supremacist.’”
The “When Harry Met Sally” director has previously spoken out against President-elect Donald Trump.
Bannon makes a percentage of an estimated $ 3.1 billion in revenues from “Seinfeld” reruns.
“Donald Trump is a narcissistic, misogynistic racist. He’s a pathological liar,” Reinertweetedin May. “We can’t let him anywhere near the White House.”
“Seinfeld” star Jason Alexander echoed his former director’s disgust about Bannon’s involvement with their show.
“So Steve Bannon makes residuals on SEINFELD,” the actortweeted. “I know there’s a joke there somewhere but right now I only find it sad.”
Director Rob Reiner said it ‘makes me sick’ that the newly minted chief strategist and top adviser to President-elect Donald Trump makes money off of his show.
(Rob Kim/Getty Images)
In 1989, Westinghouse Electric bought equity in Reiner’s Castle Rock production company, totaling about $ 48 million, in exchange for a 15% share in the company, the directortold The Daily Beast.
Several years later, Reiner and his co-owners sold Castle Rock to Ted Turner. Westinghouse in turn hired Bannon & Co., an investment bank, as consultants.
Bannon advised Westinghouse to hold onto the Jerry Seinfeld-helmed sitcom, which was in its third season at the time and hadn’t yet reached its eventual mass popularity.
In exchange, the future chairman of Breitbart News, a right-wing website popular among white nationalists, and the newly minted chief strategist and top adviser to President-elect Donald Trump, received a percentage of “Seinfeld’s” earnings.
As of 2013, “Seinfeld” had generated $ 3.1 billion in repeat fees since its finale 15 years earlier, according to the International Business Times.