US EditionDr. Phil’s Media Startup Forced Into Liquidation Amid Evidence Tampering Allegations
A federal judge ruled that converting Merit Street Media's bankruptcy to Chapter 7 liquidation ensures fairness for creditors amid concerns of manipulation by Dr. Phil.
- U.S. Bankruptcy Judge Scott W. Everett ordered conversion of Merit Street Media's case to Chapter 7 on Tuesday, rejecting efforts to keep it in Chapter 11 as being in creditors' best interests.
- Judge Scott W. Everett said the case was an anomaly, noting Merit Street Media was dead at filing and Phil McGraw formed Envoy Media, rehiring employees and deleting texts to favor creditors.
- At the heart of the trial was a purported $500 million, 10-year agreement and a disputed $425 million valuation, with Trinity Broadcasting Network alleging Merit Street failed to produce contracted programming and funneled up to $13 million monthly into production while episode delivery remains contested.
- A Chapter 7 trustee will oversee the sale of Merit Street Media's media library and litigation over whether Trinity Broadcasting breached its contract, while Professional Bull Riders holds a $181 million claim.
- McGraw plans to appeal and Merit Street Media counsel immediately requested a stay, with parties facing a 14-day window to file notice under the Federal Rules of Bankruptcy Procedure.
24 Articles
24 Articles
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The unraveling of Dr. Phil's media venture was a blow to the celebrity therapist who built a reputation as one of the most trusted voices on television. But his fortunes faded amid a dying market for syndicated TV and clashes with a distributor and partner.
Judge Orders Dr. Phil's Media Network Into Chapter 7
A federal bankruptcy judge in Texas has stripped control from talk-show host Dr. Phil's Merit Street Media and ordered the network into Chapter 7 liquidation, siding with religious broadcaster Trinity Broadcasting Network in a fast-escalating legal battle.
Dr. Phil’s media startup forced into liquidation amid evidence tampering allegations
Dr. Phil McGraw has lost a court battle over his media startup’s bankruptcy, according to the Hollywood Reporter, amid allegations that he stripped the company to launch a new venture.
The Post Millennial
kvi.comDr Phil’s media company loses bankruptcy case, ordered to liquidate
A federal bankruptcy judge has ruled that Dr. Phil McGraw’s media company, Merit Street Media, cannot file for bankruptcy and must proceed under Chapter 7 liquidation.
Dr. Phil’s Merit Street Media Ordered into Chapter 7 Liquidation
U.S. Bankruptcy Judge Scott Everett delivered a devastating blow to television personality Dr. Phil McGraw on Tuesday, converting the Chapter 11 reorganization of his troubled media startup, Merit Street Media, into a Chapter 7 liquidation accoridn to The Hollywood Reporter. The ruling strips McGraw and his production company, Peteski Productions, of control over the bankruptcy […] The post Dr. Phil’s Merit Street Media Ordered into Chapter 7 Li…
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