Bannon Loses Battle for Billionaire Backers After Bombshell Book

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The Washington Post: “…The once-close bond between candidate, strategist and mega-donors was torched this week. On Wednesday, excerpts of Michael Wolff’s new book on the administration hit the news cycle, including explosive comments Bannon reportedly made about Trump’s family. The president responded with a blistering attack on his former adviser, who left the White House last August and returned to Breitbart News as chairman.”

Said Trump, “Steve Bannon has nothing to do with me or my presidency. When he was fired, he not only lost his job, he lost his mind.”

“The rift between the two deepened Thursday, when the notoriously press-shy Rebekah Mercer — whom Newsmax Media owner Christopher Ruddy has admiringly called ‘the First Lady of the alt-right’ — publicly rebuked Bannon and stood by the president in a statement. ‘I support President Trump and the platform upon which he was elected,’ Mercer said. ‘My family and I have not communicated with Steve Bannon in many months and have provided no financial support to his political agenda, nor do we support his recent actions and statements.'”

“And although Rebekah Mercer remains a stakeholder in Breitbart News, the significance of her public slap at Bannon can’t be overstated.”

“In 2011…the Mercers were introduced to conservative flamethrower Andrew Breitbart and Bannon, agreeing to invest $10 million into Breitbart News, according to the New Yorker. One stipulation of the Mercers’ deal was to place Bannon on the news company’s board. Breitbart died months later, which left the news operation in Bannon’s hands.”

UPDATE: Bannon out as chairman of Breitbart News, loses radio show (Source: The Virginian-Pilot)

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