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Yahoo
a day ago
- Business
- Yahoo
What Happened to Dr. Phil's Cable TV Network? Bankruptcy Report Explained
Dr. Phil McGraw's return to TV through his own cable network, Merit Street Media, made headlines when it launched with promises of bold, viewer-focused programming. But just months after its debut, the network has filed for Chapter 11 bankruptcy. The filing, tied to a financial dispute with its broadcasting partner, has raised concerns about the future of the channel, its shows, and Dr. Phil's primetime comeback. Here's a breakdown of what happened and what it means going forward. Dr. Phil McGraw's ambitious cable TV venture, Merit Street Media, has filed for Chapter 11 bankruptcy. This development sparked questions about its future. The filing, made in the Northern District of Texas earlier this week, stems from a dispute with its broadcast partner, the Trinity Broadcasting Network (TBN). Despite the financial upheaval, sources say this isn't the end of the road for the network. It certainly isn't for Dr. Phil's media ambitions. The bankruptcy filing is viewed as a strategic move to protect the Merit Street brand, rather than a full shutdown. 'Dr. Phil is deeply committed to the future of the brand and his employees,' said People's source familiar with the situation. They added that McGraw remains 'focused, energized,' and actively engaged with his team. The legal drama began when Merit Street Media filed a lawsuit against TBN and TCT Ministries, Inc. The complaint accuses TBN, which held a controlling stake in the network, of intentionally sabotaging operations. The network alleges that TBN forced it to take on unsustainable debt and failed to make necessary distribution payments — a responsibility TBN had acknowledged in the past. As a result, Merit Street lost its national distribution channels, leaving it with nowhere to air its content. The lawsuit claims TBN's actions resulted in over $100 million in financial obligations and called the conduct 'a conscious, intentional pattern of choices' that ultimately undermined a promising, nationally recognized network. The next chapter of Merit Street Media will depend on the outcome of ongoing legal proceedings. Whether the brand can recover from its sudden loss of distribution is also a key factor. The post What Happened to Dr. Phil's Cable TV Network? Bankruptcy Report Explained appeared first on - Movie Trailers, TV & Streaming News, and More. 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
Gizmodo
2 days ago
- Business
- Gizmodo
Dr. Phil's ‘Anti-Woke' TV Network Files for Bankruptcy After Only a Year
Last year, in an effort to capitalize on anti-woke backlash, Dr. Phil (real name Phil McGraw) launched his own TV channel, which he said would be used to fight the good fight against the far left's radical crazies. Merit Street Media, according to McGraw, would be a vanguard in the battle for the soul of America. 'Merit Street Media will be a resource of information and strategies to fight for America and its families, which are under a cultural 'woke' assault as never before,' said McGraw at the time. '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.' Merit Street partnered with Trinity Broadcasting Network, which calls itself the 'most-watched faith-and-family broadcasting network' in the world. Since then, things have not gone particularly well for the TV mogul's company. Last summer, just a few months after it launched, the company laid off 28 staff members, which was purported to be over a third of its staff at the time. Then, last month, Merit Street laid off another 40 employees, culling the staff further. This week, Merit Street also filed for Chapter 11 bankruptcy, Variety reports. At the same time, the company has sued TBN, and accused it of sabotaging the business, the outlet notes. Merit Street claims that TBN has 'abused its position as the controlling shareholder' and that, as a result, Merit Street was forced to 'pay or incur obligations to third parties in excess of $100 million.' The litigation further has stated that TBN made the '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.' The company further states that TBN provided production services that were 'comically dysfunctional. Although it promised the equivalent of the professional facilities and services that Dr. Phil had long relied on when producing his show in Los Angeles for CBS, the supposed 'first class' services TBN promised under the Joint Venture Agreement were nothing of the sort. TBN provided screens and teleprompters that blacked out during live shows, an incomplete control room operating out of a truck, an unusable cell phone app for viewers, and amateur video editing software.' The bankruptcy motion filed in the U.S. Bankruptcy Court in the Northern District of Texas states that the company has reported 'assets and liabilities of between $100 million and $500 million,' The Daily Beast writes. 'These failures by TBN were neither unintended nor inadvertent,' Merit Street says in its lawsuit. '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.' Gizmodo reached out to Merit Street for more information. A representative from TBN said that the company currently had no comment on the litigation.
Miami Herald
2 days ago
- Business
- Miami Herald
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, "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. Copyright 2025 UPI News Corporation. All Rights Reserved.
UPI
2 days ago
- Entertainment
- UPI
Dr. Phil's media company files for bankruptcy protection
Dr. Phil McGraw attends the star unveiling ceremony honoring him with the 2,688th star on the Hollywood Walk of Fame in Los Angeles, in 2020. File photo by Chris Chew/UPI | License Photo 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, 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.
Yahoo
3 days ago
- Business
- Yahoo
Dr. Phil's Anti-Woke TV Network Sues Christian Broadcaster After Filing For Bankruptcy
Merit Street Media, a cable television network founded by daytime reality star Phil McGraw, aka Dr. Phil, filed for bankruptcy Wednesday and accused its Christian distributor of sabotage almost a year after it launched with a promise of being anti-woke. McGraw launched Merit Street Media last yearin partnership with distributor Trinity Broadcasting Network and promoted a slew of lineups with popular names such as Nancy Grace, Bear Grylls and Steve Harvey, along with a news team. The TV psychologist's company had high ambitions of becoming 'one of the most widely distributed startup networks in modern history.' 'Merit Street Media will be a resource of information and strategies to fight for America and its families, which are under a cultural 'woke' assault as never before,' Dr. Phil said at the time. '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.' McGraw appeared on the platform last year to conduct a softball interview with then-GOP presidential candidate Donald Trump, and in January, he accompanied Immigration and Customs Enforcement agents on raids in Chicago and Los Angeles that were featured by the network. Behind the scenes, Merit Street Media faced hard times that led to the network filing for Chapter 11 bankruptcy. Merely months after its launch, McGraw's company laid off about 40 employees. Last month, approximately 40 more employees were laid off. 'Those left are being told very little. We are understandably nervous and have no idea as to the future of the network,' staffers told Mediaite during the first wave of layoffs. The Professional Bull Riders pulled its programming off Merit Street Media in November, claiming the network failed to pay rights fees. In a lawsuit filed in the Northern District of Texas, Merit Street Media attributed its financial woes to Trinity Broadcasting Network, accusing it of 'sabotage' and abusing its power as the controlling shareholder shortly after Merit Street Media formed. A spokesperson for Merit Street Media told The Hollywood Reporter that Trinity Broadcasting Network failed to 'provide clearly agreed-upon national distribution and other significant foundational commitments critical to the network's continuing success and viability.' '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 lawsuit read. The lawsuit also alleged Trinity Broadcasting Network had provided Merit Street Media with 'shoddy production services,' citing teleprompter malfunctioning, an incomplete control room and a lack of engineers. '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 lawsuit read. Dr. Phil's Portrayal Of Trump To His Face Has Critics 'LOL'ing So Hard Dr. Phil Tags Along On ICE Raid And Gets Recognized NAACP Absolutely Slams Dr. Phil's 'Hard Work' Claim At Trump MSG Rally
