I understand what each word means alone, but not together as a whole. Can someone please translate this for me?

He's saying that reporters tend to be cynical, but cynical people -- people who are pessimistic and tend to search for the worst in every situation -- are actually "romantics in disguise." They put on a show of believing the worst, but secretly, they're hoping for the best, searching for the hero, holding out for the happy ending. That's why they can be enchanted (or even deceived) by someone (or something) that has "flash and charm" -- a charismatic speaker, a benevolent corporation, a movement for peace, justice, compion. Cynics, like the rest of us (and at times even more so) want to believe that people are good and that everything is going to be okay.