Dr. Phil's media company files for bankruptcy protection
July 4 (UPI) -- Former daytime television talk show host Phil McGraw's JV Merit Street Media has filed for bankruptcy protection and sued its business partner, Trinity Broadcasting, for breach of contract, saying it destroyed his television network.
McGraw, known as Dr. Phil, hosted his talk show for 21 years before it ended after the 2022-2023 season, a program that remained on the air in syndication.
Merit Street's lawsuit focuses on Christian television broadcaster Trinity Broadcasting Network, and claims it violated distribution agreements.
"Trinity Broadcasting Network is being sued by Merit Street Media for failing to provide clearly agreed upon national distribution and other significant foundational commitments critical to the network's continuing success and viability," according to a statement from MSM, Deadline.com reported. "The suit is part of a restructuring proceeding also initiated by MSM."
TBN was founded in 1973 by televangelist Paul Crouch and his wife, Jan, and is currently operated by Matthew Crouch. In 2000, Paul Crouch was sued for $40 million by author Sylvia Fleener, who accused Paul Crouch of plagiarism in his book The Omega Code, which had an apocalyptic, end times theme.
Crouch was also accused of paying a former male employee $425,000 to keep the man quiet about a sexual relationship Crouch had with him.
Under terms of the deal, TBN was to distribute original versions of McGraw's content at no cost in exchange for a controlling equity interest in the network, the lawsuit said.
The Chapter 11 bankruptcy filing comes just weeks after the company laid off 40 employees, the second round of job cuts which followed layoffs in Aug. 2024 that saw the company release a third of its staff.
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