Just one year after its April 2024 launch, Dr. Phil’s media venture, Merit Street Media, has filed for Chapter 11 bankruptcy—blaming its partner Trinity Broadcasting Network for breaching their agreement and saddling the network with over $100 million in debt.
Breaking celebrity media news: Dr. Phil McGraw’s media startup, Merit Street Media, filed for Chapter 11 bankruptcy over a year after its April 2024 debut KERA News+11The Wall Street Journal+11The Daily Beast+11The Independent+1.
The company, launched as a joint venture with Trinity Broadcasting Network (TBN), claims its partner reneged on vital distribution and production commitments—leaving the network with more than $100 million in unexpected liabilities, including $96 million in distribution costs The Wall Street Journal+2EW.com+2.
In legal filings, Merit Street alleges “comically dysfunctional” production support from TBN—ranging from faulty teleprompters to substandard studio tools—and asserts that the breach deliberately sabotaged its operations Wikipedia+11EW.com+11Los Angeles Times+11.
A formal lawsuit has been launched as part of the restructuring, seeking damages and legal fees. Despite the financial turmoil, Merit Street Media promises to continue operations through the Chapter 11 process
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