US EditionDr. Phil’s Year-Old Cable Network Files for Bankruptcy, Accusing Broadcast Partner of Reneging on Obligations
- Merit Street Media, a television company co-founded by Dr. Phil McGraw, initiated Chapter 11 bankruptcy proceedings in Texas in April 2024 and concurrently filed a lawsuit against its broadcast partner, Trinity Broadcasting Network.
- The bankruptcy and lawsuit arose after TBN, the controlling shareholder, allegedly failed to provide promised national distribution and intentionally sabotaged Merit Street's operations.
- Merit Street accused TBN of saddling the business with unsustainable debt exceeding $100 million and delivering subpar production services, which led to staff layoffs and a suspension of programming.
- The suit states TBN's failures were a "conscious, intentional pattern of choices" aiming to "sabotage and seal the fate" of Merit Street, which estimated assets and liabilities between $100 and $500 million.
- This outcome highlights challenges in cable TV distribution and suggests continuing legal and financial consequences for Merit Street and its relationship with TBN.
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Dr. Phil's young TV network files for bankruptcy, accuses partner of breaching contract
The lawsuit, which was filed with the US Bankruptcy Court in the Northern District of Texas, comes one year after McGraw launched his network. McGraw retired as the host of the Dr. Phil television show in 2023, after 21-years on air.
·Washington, United States
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Dr. Phil’s Anti-Woke Television Network Files For Bankruptcy, Sues Christian Trinity Broadcasting Network
Merit Street Media, the cable news network founded by reality television star Dr. Phil McGraw, filed for bankruptcy on Wednesday and filed a lawsuit accusing its business partner of losing the network more than $100 million. The network, which launched by McGraw in an effort to counter the “cultural ‘woke’ assault,” filed for bankruptcy in the Northern District of Texas, reporting “assets and liabilities of between $100 million and $500 million,…
·United States
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