Additional Coverage:
Dr. Phil’s Media Company Files for Bankruptcy, Sues Trinity Broadcasting
Former daytime talk show host Dr. Phil McGraw’s media venture, Merit Street Media, has filed for Chapter 11 bankruptcy protection and launched a lawsuit against its business partner, Trinity Broadcasting Network (TBN). The suit alleges breach of contract, claiming TBN’s actions effectively destroyed the fledgling television network.
Merit Street’s lawsuit contends that TBN failed to uphold distribution agreements crucial to the network’s success. A statement from Merit Street Media explains the lawsuit is part of a restructuring process and accuses TBN of not honoring commitments related to national distribution.
The bankruptcy filing follows two rounds of layoffs at Merit Street Media, one in August 2024 and another just weeks ago, resulting in a significant reduction of staff.
The partnership between the two entities involved TBN distributing Dr. Phil’s content at no cost in exchange for a controlling equity interest in the network.
TBN, founded in 1973 by televangelist Paul Crouch, has faced past controversies, including accusations of plagiarism and a sexual misconduct lawsuit against its founder. The network is currently run by Matthew Crouch.