Latest news with #MeritStreet
Yahoo
08-07-2025
- Business
- Yahoo
Behind Dr. Phil's Media Flameout
Phil McGraw's Merit Street Media is in bankruptcy court and is simultaneously suing its distribution partner, Trinity Broadcasting, for breach of contract that the company says led to the chapter 11 filing. But signs that the 15-month-old network was struggling were there well before Merit Street began bankruptcy proceedings on July 2. In its lawsuit, Merit Street says Trinity Broadcasting — known for its Christian programming, and with a distribution network that reaches about 65 million homes in the U.S. — forced its network, Merit TV, into expensive third-party distribution deals rather than using Trinity's own network of local stations and provided 'shoddy production services' for Merit TV's programs, among other issues. McGraw's own Peteski Productions gave Merit Street a bridge loan to cover some ongoing operations, but Merit Street's precarious finances made securing outside infusions of capital impossible, leading to the bankruptcy filing. More from The Hollywood Reporter Phil McGraw's Merit Street Media Files for Bankruptcy, Sues Distribution Partner Trinity Broadcasting Dr. Phil Says Donald Trump "Understands Importance of Allies" in Israel Support Hulk Hogan, Dr. Phil, Elon Musk Speak at Donald Trump's Insult-Filled Rally at Madison Square Garden Several attempts to reach Trinity Broadcasting for comment were unsuccessful. Prior to the bankruptcy filing, however, there were a number of indicators that Merit TV was undergoing a rocky start to its life — even putting aside the questionable notion of launching a linear TV venture in a time when streaming is the default option for the largest share of viewers. And even the linear TV part of Merit Street's offering (which also includes a FAST channel and mobile app) wasn't fully locked down: The channel is available over the air (though often on digital subchannels) in most major markets and is available on some — but hardly all — cable and satellite providers. Comcast's Xfinity service, YouTube TV and Hulu + Live TV don't carry it. On the programming front, McGraw's Dr. Phil Primetime is the flagship show for Merit TV, but it also featured a morning and evening newscast and a handful of original shows, including ones hosted by Nancy Grace and former Bachelor host Chris Harrison. Merit Street also announced a deal with the Professional Bull Riders tour to carry its events, which kicked off in July 2024. By October, however, PBR had pulled its programming from Merit TV, saying the network had yet to pay rights fees. The two sides are in arbitration over the dispute. (PBR moved on to sign a rights deal with Fox Nation, the Fox News streaming platform.) More recently, the evening newscast was scrapped in favor of a morning show and live hourly updates during other parts of the day. Following the bankruptcy filing, all shows — including Dr. Phil Primetime — have stopped production, leaving Merit TV as something of a zombie channel. Reruns of McGraw's various programs and a few infomercials fill the day. The last available morning newscast on the Merit TV app is from July 1. On the digital side, Merit TV's YouTube channel has fewer than 90,000 subscribers, and while a handful of videos there have tallied a million or more views (based on YouTube's 30-second qualifier), the biggest one from the last three months has just 40,000. Merit TV also made headlines — not particularly positive ones — for McGraw's embedding with ICE agents on raids in the early days of Donald Trump's second presidential administration. In the segments aired on Merit TV, 'border czar' Tom Homan states that that the raids showcased problems with so-called sanctuary cities, which McGraw (and Merit's newscasters) seemingly take at face value. McGraw also interviewed Trump several times during the 2024 campaign. Merit TV never reached a wide audience — in primetime, it averaged a paltry 27,000 viewers in 2024, ranking 130th among broadcast and cable outlets. The company touted its January performance (albeit without any detailed numbers), noting that Merit TV moved up to 65th place for the month. That would have meant an average audience in the low six figures, based on 2024 data, and was also the peak for Merit TV: By the second quarter of 2025, its audience dipped to just 17,000 primetime viewers. Best of The Hollywood Reporter How the Warner Brothers Got Their Film Business Started Meet the World Builders: Hollywood's Top Physical Production Executives of 2023 Men in Blazers, Hollywood's Favorite Soccer Podcast, Aims for a Global Empire
New York Post
04-07-2025
- Business
- New York Post
Dr. Phil's Merit Street Media files for bankruptcy, sues Trinity Broadcasting
Dr. Phil McGraw's Texas-based media company filed for bankruptcy on Wednesday and simultaneously filed a breach of contract lawsuit against business partner Trinity Broadcasting Group, which specializes in Christian programming. 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.' '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. 4 Dr. Phil addresses his crowd during an season 7 episode of his show in 2008. Dr. Phil / YouTube '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.' Trinity 'formed Merit Street as a joint venture and contractually committed to provide valuable services to the joint venture,' according to the complaint. '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. 4 Merit Street accused Trinity Broadcasting of reneging on its obligations. 4 McGraw agreed to provide Merit Street with new episodes of his 'Dr. Phil Show,' primetime specials and other content. Dr. Phil/YouTube '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. 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. 4 President Donald Trump shakes hands with Dr. Phil McGraw during an event in the White House Rose Garden on May 1, 2025. Getty Images 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.
Los Angeles Times
03-07-2025
- Business
- Los Angeles Times
Dr. Phil's TV network files for bankruptcy and sues distribution partner
Merit Street Media, the TV network launched last year by talk show host Phil McGraw, has filed for bankruptcy protection from creditors and is suing its distribution partner, Trinity Broadcasting Network. McGraw's company filed the suit Thursday in U.S. Bankruptcy Court claiming Fort Worth-based Christian media firm Trinity, or TBN, failed to meet its obligations to provide studio space and secure TV stations and pay TV distributors to carry Merit. McGraw, who hosted the successful syndicated talk show 'Dr. Phil' for 21 years, entered a joint venture in 2023 with Trinity, which agreed to carry Merit on its TV stations across the country and provide production services. But according to the suit, McGraw is funding the struggling venture out of his pocket — shelling out $25 million over six months. The company laid off 40 employees in June and had to terminate its TV deal with Professional Bull Riders after failing to pay its rights fee. Merit Street's Chapter 11 bankruptcy filing lists the company's liabilities at $100 million to $500 million. The document, filed in Texas, gives the same range for the value of Merit Street's assets. Like TBN, Merit Street is based in Fort Worth. TBN did not respond to a request for comment on the suit. Merit Street carries 'Dr. Phil Primetime,' in which the host delivers right-of-center political commentary as well as guest interviews. The program was put on summer hiatus when the June layoffs were announced. McGraw recently attracted attention when the show had a camera embedded with ICE during immigration raids in Los Angeles. McGraw, once a practicing psychologist, became a self-help guru propelled to fame by Oprah Winfrey, who hired him to help prepare her for a libel case brought by the Texas Beef Group in 1996. Since leaving his daily talk show, he has emerged as a political commentator who is supportive of President Trump. Merit also has a nightly newscast and a true crime program featuring veteran legal commentator Nancy Grace. The lawsuit claims Merit's operations were hampered by TBN's contracted technical services, which it described as 'comically dysfunctional.' Teleprompters and monitors allegedly blacked out during live programs with a studio audience. TBN was using 'amateur' video editing software and Merit staff were unable to use phones in the studio due to poor cellphone coverage, the suit added. McGraw's company, Peteski Productions, launched Merit in a joint venture with TBN, which offers religious programming to its TV stations and affiliates across the country. As the majority owner, TBN was required to provide all back office and production services for Merit. TBN was also obligated to cover the cost of distributing Merit's programs on its outlets and pay TV providers, the suit said. The lawsuit claims TBN failed to provide that service, forcing Merit Street to enter its own agreements to get the network carried on TV stations and cable and satellite providers at a cost of $96 million. TBN's failure to pay led to a number of TV stations to drop Merit Street programming. The suit also claims TBN failed to deliver promised marketing and promotional services, only providing minimal social media advertising. TBN missed a $5-million payment to Merit in July 2024, which led the partners to change the terms of their arrangement, the complaint said. Merit became the 70% owner, with TBN taking a 30% stake. But the suit claims TBN still failed to meet its contractual obligations. The suit said that TBN's failure to fund Merit forced McGraw and Peteski to provide $25.4 million to finance the network's operations from December 2024 to May 2025.
Miami Herald
03-07-2025
- Business
- Miami Herald
Dr. Phil's Media Company Accuses Christian Network of ‘Sabotage'
Merit Street Media, the media company founded by television personality and psychologist Dr. Phil McGraw, has filed for bankruptcy while suing its broadcast partner for allegedly contributing to its situation-accusing it of sabotage. In the suit, filed with the Bankruptcy Court in the Northern District of Texas, Merit Street Media claimed Christian network Trinity Broadcasting of Texas Inc. (TBN) "reneged on its obligations and abused its position as the controlling shareholder of Merit Street" to burden the company with over $100 million in debt. "These failures by TBN were neither unintended nor inadvertent," the lawsuit read. "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." Newsweek has reached out to TBN and Merit Street Media outside of regular working hours for comment. Merit Street Media's bankruptcy comes just over a year after its launch as a self-avowed anti-woke alternative to mainstream news outlets. Beyond the alleged actions of its distribution partner, its collapse highlights the difficulties of attempting to break into and compete in the cable television market-a sector which continues to be threatened as customers migrating to streaming services and digital news platforms. Upon officially launching Merit Street Media in April 2024, McGraw said the network would represent a "resource of information and strategies to fight for America and its families, which are under a cultural 'woke' assault as never before." "I love this country and I believe family is the backbone of our society. Together we are going to stand strong and fight for the very soul and sanity of America and get things that matter back on track," his statement read. The company aimed to become "one of the most widely distributed startup networks in modern history," driven by flagship show Dr. Phil Primetime and a broad lineup of shows starring other notable figures, including Nancy Grace and Steve Harvey. Its programming has included McGraw accompanying Immigration and Customs Enforcement (ICE) during raids in Chicago and Los Angeles, and McGraw's 2024 interview with Donald Trump during the presidential campaign. Merit Street Media is suing TBN over alleged breach of contract, claiming that its former distribution partner failed to deliver on key commitments. Examples alleged in the lawsuit include failing to guarantee Merit Street's national distribution and providing "comically dysfunctional" production services, which left the network without viable means of airing its programming, per the suit. More critically, Merit Street Media claimed that TBN used its position as a controlling shareholder to "to advance its own interests and those of its CEO," and unfairly shift liabilities onto the company. The company is also suing TCT Ministries in the suit, in relation to a $25 million loan it says was originally made to Merit Street by a company "closely connected" to TBN and which TCT took over. Newsweek has also reached out to TCT Ministries for comment. In its coinciding bankruptcy filing, the company reported assets and liabilities of between $100 million and $500 million, according to Bloomberg. Merit Street Media, in the lawsuit filed Wednesday, said: "TBN formed Merit Street as a joint venture and contractually committed to provide valuable services to the joint venture. But TBN 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." According to court filings, Merit Street Media is seeking unspecified damages from TBN, as well as the cost of its legal fees. Related Articles Dr. Phil Joining ICE Raids Ripped by Illinois AGTexas Breakaway Group Warns US Changes or 'Blows Up'Texas Independence Leader Clashes With Dr. Phil: 'Beyond Belief'Jon Stewart Savages 'Dirty' Dr Phil 2025 NEWSWEEK DIGITAL LLC.
Newsweek
03-07-2025
- Business
- Newsweek
Dr. Phil's Media Company Accuses Christian Network of 'Sabotage'
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Merit Street Media, the media company founded by television personality and psychologist Dr. Phil McGraw, has filed for bankruptcy while suing its broadcast partner for allegedly contributing to its situation—accusing it of sabotage. In the suit, filed with the Bankruptcy Court in the Northern District of Texas, Merit Street Media claimed Christian network Trinity Broadcasting of Texas Inc. (TBN) "reneged on its obligations and abused its position as the controlling shareholder of Merit Street" to burden the company with over $100 million in debt. "These failures by TBN were neither unintended nor inadvertent," the lawsuit read. "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." Newsweek has reached out to TBN and Merit Street Media outside of regular working hours for comment. Dr. Phil McGraw visits SiriusXM Studios on February 27, 2024, in New York City. Dr. Phil McGraw visits SiriusXM Studios on February 27, 2024, in New York It Matters Merit Street Media's bankruptcy comes just over a year after its launch as a self-avowed anti-woke alternative to mainstream news outlets. Beyond the alleged actions of its distribution partner, its collapse highlights the difficulties of attempting to break into and compete in the cable television market—a sector which continues to be threatened as customers migrating to streaming services and digital news platforms. What To Know Upon officially launching Merit Street Media in April 2024, McGraw said the network would represent a "resource of information and strategies to fight for America and its families, which are under a cultural 'woke' assault as never before." "I love this country and I believe family is the backbone of our society. Together we are going to stand strong and fight for the very soul and sanity of America and get things that matter back on track," his statement read. The company aimed to become "one of the most widely distributed startup networks in modern history," driven by flagship show Dr. Phil Primetime and a broad lineup of shows starring other notable figures, including Nancy Grace and Steve Harvey. Its programming has included McGraw accompanying Immigration and Customs Enforcement (ICE) during raids in Chicago and Los Angeles, and McGraw's 2024 interview with Donald Trump during the presidential campaign. Merit Street Media is suing TBN over alleged breach of contract, claiming that its former distribution partner failed to deliver on key commitments. Examples alleged in the lawsuit include failing to guarantee Merit Street's national distribution and providing "comically dysfunctional" production services, which left the network without viable means of airing its programming, per the suit. More critically, Merit Street Media claimed that TBN used its position as a controlling shareholder to "to advance its own interests and those of its CEO," and unfairly shift liabilities onto the company. The company is also suing TCT Ministries in the suit, in relation to a $25 million loan it says was originally made to Merit Street by a company "closely connected" to TBN and which TCT took over. Newsweek has also reached out to TCT Ministries for comment. In its coinciding bankruptcy filing, the company reported assets and liabilities of between $100 million and $500 million, according to Bloomberg. What People Are Saying Merit Street Media, in the lawsuit filed Wednesday, said: "TBN formed Merit Street as a joint venture and contractually committed to provide valuable services to the joint venture. But TBN 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." What Happens Next? According to court filings, Merit Street Media is seeking unspecified damages from TBN, as well as the cost of its legal fees.
