Armenian Genocide denier, founder and host of The Young Turks, Cenk Uygur talks a big game when it comes to getting money out of politics, but it appears that his actions are different.
Uygur is taking money from Wall Street, a shadow industry that he ironically blasts on his programs, to the tune of $20 million to help pay for a massive expansion of the TYT Network. The progressive outlet hopes to add field reporters and increase ad revenues for their programming on YouTube as well as other online sources.
According to an article on The Wall Street Journal, Uygur is taking equity funds from 3L Capital, as well as venture capitalists Greycroft Partners, e.ventures, and WndrCo, an endeavor founded by Jeffrey Katzenberg, former chairman of Disney Studios.
Some credit the so-called “Trump Bump” for the uptick in financial backing of independent media outlets including leftist channels like The Young Turks.
Uygur said of the deal, “News is red hot right now and being positioned on the progressive side of the coin has put us in a very good place.”
TYT added in a statement, "TYT will use the investment to expand its roster of management and creative talent, enhance its subscription offering, expand marketing initiatives and strengthen content and community engagement.”
This is the second time Uygur has accepted funding from a Wall Street firm. In 2014, former Louisiana Governor Buddy Roemer gave The Young Turks over $5 million to help expand their operations.
Shawn Colo, who is a partner at 3L Capital, praised the deal with the left-wing pundit, saying, “The macro trends around how millennials are consuming news and their political interest has made this a good business opportunity for us.”
Despite his railings against getting money out of politics, Uygur increasingly shows a more hypocritical side. He is the co-founder of the "Justice Democrats," a group gearing to endorse and fund socialist candidates for the upcoming 2018 mid-term elections.
He also provides constant favorable coverage of candidates he endorses on The Young Turks. During his debate at Politicon, his opponent, Daily Wire Editor-in-Chief Ben Shapiro, made the point that TYT support of Bernie Sanders during the 2016 election amounted to a quasi-political donation.
Shapiro said, “As far as the idea that all money should be taken out of politics, here’s the problem. TYT, I, we both have corporations and we expound upon politics every single day. And we motivate thousands of people, every single day, on both sides of the political aisle. That is, effectively, an in-kind contribution. Now you campaigned with Bernie Sanders. Did you do it because you supported Bernie Sanders or did you do that because you expected some “gimme” for TYT in return? I assume you did it because you supported Bernie Sanders, right?”
He added, “So the point that I am making is to attribute to everyone else bad intent when it comes to political spending in politics, but to yourself it’s totally fine, but when it comes to other media entities that give in-kind contributions on a regular basis in their coverage …”
Uygur scoffed at this, yelling, “Money is money,” and “speech is speech!”