Disconcerted magnate turns deep red (7)

I believe the answer is:

magenta

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'deep red' is the definition.
(I've seen this before)

'disconcerted magnate' is the wordplay.
'disconcerted' indicates anagramming the letters.
'magnate' anagrammed gives 'MAGENTA'.

'turns' acts as a link.
I am not very happy about this link. It may belong to another bit of the clue.

Can you help me to learn more?

(Other definitions for magenta that I've seen before include "puce" , "Bright purplish red or magnate" , "Name tag (anag) - colour" , "Light purplish-red" , "Colour named after a bloody 1859 battle in Italy" .)

I've seen this clue in The Globe and Mail.

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