Dr. Phil's Merit Street Media files for bankruptcy, sues Trinity Broadcasting
Merit Street Media, which was formed in 2023 and launched Merit TV in 2024, is a joint venture of McGraw's Peteski Productions and Trinity Broadcasting. McGraw agreed to provide Merit Street with new episodes of his "Dr. Phil Show," primetime specials and other content, while Trinity Broadcasting contributed distribution and production services, according to the lawsuit that essentially blames the Christian broadcaster for the bankruptcy.
Merit Street accused Trinity Broadcasting of reneging on its obligations and abusing "its position as the controlling shareholder of Merit Street to improperly and unilaterally burden Merit Street with unsustainable debt, doing so either without notice or in direct violation of promises not to do so."
Dr. Phil Says Legacy Media Is 'Creating Criminals' By Distorting La Riot Coverage
"This lawsuit arises out of a sad but oft told story: one side lived up to its commitments but the other, the Defendant [Trinity], did not. Moreover, these failures by [Trinity] were neither unintended nor inadvertent. They were a conscious, intentional pattern of choices made with full awareness that the consequence of which was to sabotage and seal the fate of a new but already nationally acclaimed network," the complaint, filed in conjunction with the Chapter 11 bankruptcy filing in U.S. Bankruptcy Court for the Northern District of Texas, stated.
"This fresh voice on the national stage is inexorably going dark, going off the air because TBN has refused to honor its commitment to transfer its must carry rights and thereby provide national distribution for the network—Merit Street," the complaint continued. "And this conduct stretches beyond mere breach of contract and extends to breach of fiduciary duty and breach of the duty of good faith and fair dealing—the full extent to which may require a forensic accounting audit."
Read On The Fox News App
Trinity "formed Merit Street as a joint venture and contractually committed to provide valuable services to the joint venture," according to the complaint.
Dr. Phil Excoriates Ilhan Omar, Calls Her Bashing Of America 'Absolutely Disgusting'
"But [Trinity] then reneged on its obligations and abused its position as the controlling shareholder of Merit Street to improperly and unilaterally burden Merit Street with unsustainable debt, doing so either without notice or in direct violation of promises not to do so," the complaint stated, noting that it owes over $100 million to third parties and that Trinity, referred to as "TBN" in court documents, should be responsible.
"The most egregious impact is TBN's conscious and knowing choice to cause Merit Street to lose its national distribution by withholding distribution payments despite repeatedly acknowledging those distribution payments were 100% TBN's sole responsibility. Simply put, as a result of TBN's conduct, Merit Street has nowhere to send its broadcast signal and nowhere to air its programming no matter how great it may be," the complaint stated.
Click Here For More Coverage Of Media And Culture
Merit Street bills itself as an organization that "provides clarity and solutions on the issues and topics that matter most to Americans," including "traditional family content," news, sports, music, true crime and more.
The bankruptcy filing lists both estimated assets and liabilities in the $100-$500 million range. Merit Street is seeking damages, legal costs, and "further relief as the Court may deem just and proper."
Trinity Broadcasting did not immediately respond to a request for comment by Fox News Digital.Original article source: Dr. Phil's Merit Street Media files for bankruptcy, sues Trinity Broadcasting
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
10 minutes ago
- Yahoo
Sophie Cunningham Turns Heads With Outfit For Indiana Fever Game on Saturday
Sophie Cunningham Turns Heads With Outfit For Indiana Fever Game on Saturday originally appeared on Athlon Sports. Sophie Cunningham and the Indiana Fever are in the midst of a three-game winning streak despite missing All-WNBA point guard Caitlin Clark due to a groin injury. Advertisement On Saturday, Clark will miss her fifth consecutive game as the Fever host Kelsey Plum and the Los Angeles Sparks at Gainbridge Fieldhouse. Cunningham has been one of Indiana's biggest bench players during her first year with the team. Through 12 games played, she is averaging 5.3 points, 4.0 rebounds and 1.0 steals in 22.3 minutes per contest. Ahead of Saturday's game, the Fever, as usual, showcased their players' outfits as they arrived at the arena. Cunningham opted for a sleeveless white lace mini dress, paired with white pointed-toe heels featuring black trim and gold hoop earrings. "a moment for tonight's fits," the Indiana Fever wrote on X. Advertisement WNBA fans appreciated Cunningham's latest outfit of choice, taking to social media to leave their thoughts. "Looking good, as always," one fan said. "Gorgeous," added another. "Sophie 💗," wrote a third. "Sophie ready for revenge against the Sparks," added a fourth. "Shooting Guardess," posted a fifth. "Sophie pregame vs Sparks 🤍🤍," commented a sixth. Indiana Fever guard Sophie Cunningham (8)© Jerome Miron-Imagn Images On June 26, the Fever and Sparks met for the first time of the season, with Los Angeles taking an 85-75 win in the Fever's home court. Clark was out for that game as well, while Cunningham put up 10 points and four steals off the bench. Following Saturday's game, the Fever will continue their five-game home stand with a battle against the Golden State Valkyries on Wednesday. Advertisement Related: WNBA Legend Candace Parker Has Strong Words For Caitlin Clark, Angel Reese This story was originally reported by Athlon Sports on Jul 5, 2025, where it first appeared.
Yahoo
11 minutes ago
- Yahoo
'Into a void': Young US college graduates face employment crisis
Over two years, Rebecca Atkins filed more than 250 job applications, and felt like every one was going into a gaping chasm -- one opened by the highest unemployment rate for recent college graduates in the United States in more than a decade. "It was extremely dispiriting," said the 25-year-old, who graduated in 2022 with a degree in law and justice from a university in the US capital Washington. "I was convinced that I was a terrible person, and terrible at working." At 5.8 percent, unemployment for young, recent graduates from US universities is higher than it has been since November 2013, excluding 15 months in the Covid pandemic, according to official data. Moreover, it has also remained stubbornly higher than overall unemployment -- an extremely unusual situation, analysts say. And while overall US unemployment has stabilized between around 3.5 and 4 percent post-pandemic, unemployment for recent college graduates is only trending higher. The labor market for new grads has weakened consistently since 2022, with new hiring down 16 percent in 2025, year-over-year, according to payroll firm Gusto. Analysts say the trend is likely a result of cyclical post-pandemic hiring slowdowns -- particularly in new-grad-heavy sectors like technology, finance, and business information -- and overall economic uncertainty in the tumultuous early days of the Trump administration. That is scant consolation to the droves of young people -- often saddled with huge amounts of student debt -- on the hunt for their first full-time job. "All of the jobs that I wanted, I didn't have the requirements for -- often entry-level jobs would require you to have four or five years of experience," said Atkins, who bounced between part-time roles and working in restaurants for years. - 'Extremely high uncertainty' - "It is definitely an outlier," said Matthew Martin, senior US economist at Oxford Economics. "You'd expect that the white collar positions would not be as exposed to cyclical downturns (as other jobs)." Job openings for professional and business services have declined by more than 40 percent since 2021, according to research authored by Martin, with tech sector jobs disproportionately impacted. "Part of that is a slower pace of hiring as they right-size after they hired at very high rates in 2022, but at the same time the sheer volume of decline also points to the impact of AI," he told AFP, signaling the potential of artificial intelligence technology to eliminate some entry-level roles. Gregory Daco, chief economist at EY-Parthenon, said slowing tech sector hiring as companies focus on holding on to their talent "disproportionately" affects recent graduates. The hiring slowdown is also a result of US President Donald Trump's far-reaching policy swings since taking office in January, said Daco. "The experience of extremely high uncertainty when it comes to the administration's trade, tax or other policies has caused many firms to potentially slow down or freeze their hiring." He cautioned, however, against jumping to the conclusion that AI had already begun to eliminate entry-level roles, pointing to a so-far limited uptake of the technology by most sectors. "The reality is that a lot of firms are still in the early stages of adoption of these new technologies, and I think it would be a bit premature to assume that we've reached a level of use... that would have a visible macro impact." - 'Constantly working' - The United States is perhaps the most expensive country in the world for a university education, with an average cost of $27,673 per year for an undergraduate degree, according to official data. In 2020, 36.3 percent of US undergraduates took on federal student loans to help meet those spiraling costs, the data shows, with the Education Data Initiative putting average student loan debt for graduating students at $29,550. Even without student loan debt, however, the weakening job market can leave some recent graduates feeling like they are stretched thin. Katie Bremer, 25, graduated from American University with a dual-degree in Environmental Science and Public Health in 2021. It took her more than a year to find a full-time job -- one not in her field -- and even then, she had to supplement her income by babysitting. "I felt like I was constantly working," she told AFP. "It seems overwhelming, looking at the costs, to try and make your salary stretch all the way to cover all the milestones you're supposed to reach in young adulthood." There is little hope on the immediate horizon, with analysts warning that it will likely take some time for the labor market to resolve itself, with part of that adjustment likely seeing students picking different majors. "It's likely to get worse before it gets better," said Martin. Looking at her peers, many of whom are saddled with huge debt and struggled to find work, Bremer says she worries for their collective long-term future. "There have been times where I've thought 'how is my generation going to make this work?'" aha/sla Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14 minutes ago
- Yahoo
Ingram Micro Issues Statement Regarding Cybersecurity Incident
IRVINE, Calif., July 06, 2025--(BUSINESS WIRE)--Ingram Micro Holding Corporation (NYSE: INGM) ("Ingram Micro" or the "Company") today issued the following statement with respect to an ongoing system outage: Ingram Micro recently identified ransomware on certain of its internal systems. Promptly after learning of the issue, the Company took steps to secure the relevant environment, including proactively taking certain systems offline and implementing other mitigation measures. The Company also launched an investigation with the assistance of leading cybersecurity experts and notified law enforcement. Ingram Micro is working diligently to restore the affected systems so that it can process and ship orders, and the Company apologizes for any disruption this issue is causing its customers, vendor partners, and others. About Ingram Micro Ingram Micro (NYSE: INGM) is a leading technology company for the global information technology ecosystem. With the ability to reach nearly 90% of the global population, we play a vital role in the worldwide IT sales channel, bringing products and services from technology manufacturers and cloud providers to a highly diversified base of business-to-business technology experts. Through Ingram Micro Xvantage™, our AI-powered digital platform, we offer what we believe to be the industry's first comprehensive business-to-consumer-like experience, integrating hardware and cloud subscriptions, personalized recommendations, instant pricing, order tracking, and billing automation. We also provide a broad range of technology services, including financing, specialized marketing, and lifecycle management, as well as technical pre- and post-sales professional support. Learn more at Forward-Looking Statements This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements because they contain words such as "believes," "expects," "may," "will," "should," "seeks," "intends," "plans," "estimates," or "anticipates," or similar expressions which concern our strategy, plans, projections, or intentions. By their nature, forward-looking statements: speak only as of the date they are made; are not statements of historical fact or guarantees of future performance; and are subject to risks, uncertainties, assumptions or changes in circumstances that are difficult to predict or quantify. Our expectations, beliefs, and projections are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs, and projections will result or be achieved, and actual results may vary materially from what is expressed in or indicated by the forward-looking statements. Certain important factors that could cause actual results to differ, possibly materially, from our expectations, beliefs, and projections reflected in such forward-looking statements can be found in the "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" sections included in the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as may be required by any applicable securities laws. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. View source version on Contacts Investor Relations Willa McManmonir@ Media Lisa Sign in to access your portfolio
