Dr. Phil’s TV network files for bankruptcy, sues Christian broadcaster

Dr. Phil McGraw’s company faces financial problems.

Wednesday, Merit Street Media, the wired network founded by the personality of television, filed a bankruptcy request for chapter 11 in a Texas court. Merit Street also brought legal action against its distribution partner, the Christian Broadcasting Corporation Trinity Broadcasting Network (TBN), alleging that TBN had broken the business contract and then cost Merit Street more than $ 100 million.

Representatives of Merit Street and Trinity Broadcasting Network did not immediately respond to Weekly entertainmentComment request.

The complaint, which was examined by EW, described how McGraw formed Merit Street as a joint venture between his other company, Peteski Productions, and TBN. The complaint

says that in 2023 McGraw left his day series, Dr PhilAfter 21 years of production of the show in Los Angeles to collaborate with TBN in Texas and present the show during prime times – to discover that its new partners would not honor the terms of their agreement.

The complaint alleys that Peteski has bitten numerous service invoices which should have been provided free of charge by Trinity – including the distribution of Merit Street programming on many networks that TBN has in the United States. The complaint claims that Trinity’s refusal to distribute Merit Street programming alone cost the MCGRAW network to the MCGRAW network, not to mention the staff, insurance and production services that TBN said it would cover.

The complaint maintains that TBN’s “failures” were “a conscious and intentional model of choice made with mindfulness, the consequence of which was to sabotage and seal the fate” on Merit Street.

The complaint also alleys that TBN has provided “comically dysfunctional” production services, including telecoms that have evolved during live emissions, a poor quality mobile application, downgraded mounting software and an insufficient control room “operating from a truck”. According to the complaint, the conditions were so disastrous that Merit Street staff could not make telephone calls inside the studio.

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Merit Street requests an undeveloped amount of damages, the more lawyers’ fees.

Merit Street Media was founded just over a year ago, officially launched in April 2024. The network also produces programs like Through drama with Chris and Lauren,, Steve HarveyAnd The island with bear glylls.