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lite.cnn.com - on gopher - inofficial
ARTICLE VIEW:
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3 min read
Dr. Phil’s year-old cable network files for bankruptcy, accusing
broadcast partner of reneging on obligations
By Liam Reilly, CNN
Updated:
6:53 PM EDT, Wed July 2, 2025
Source: CNN
Dr. Phil’s TV network, Merit Street Media, filed for bankruptcy on
Wednesday and sued Christian television giants Trinity Broadcasting
Network and TCT Ministries for allegedly harming its business and
contributing to its financial woes.
The lawsuit, filed by Fort Worth-based Merit Street with the US
Bankruptcy Court in the Northern District of Texas, claims that TBN,
the network’s broadcast partner, backed out of its obligations and
instead “abused its position as the controlling shareholder.” As a
result, Merit Street claims it was forced to “pay or incur
obligations to third parties in excess of $100 million.”
“These failures by TBN were neither unintended nor inadvertent,”
Merit Street argued in the lawsuit. “They were a conscious,
intentional pattern of choices made with full awareness that the
consequence of which was to sabotage and seal the fate of a new but
already nationally acclaimed network.”
In a statement, a Merit Street spokesperson said the network is suing
TBN for “failing to provide clearly agreed-upon national distribution
and other significant foundational commitments critical to the
network’s continuing success and viability.”
“The suit is part of a restructuring proceeding also initiated by
MSM,” the spokesperson said.
The Chapter 11 bankruptcy declaration and lawsuit come just over a year
after the joint cable venture’s official launch. Phil McGraw, known
as Dr. Phil, launched the cable network despite the precarious state of
the cable industry, which has seen customers cut the cord in favor of
streaming entertainment and digital news platforms. The venture
followed the conclusion of Dr. Phil’s 21-season show on CBS in May
2023.
However, according to the lawsuit, Merit Street’s troubles began
almost immediately after it was established in January 2023, when Dr.
Phil’s Peteski Productions first partnered with TBN, which puts out
faith- and worship-based content as the world’s largest Christian
network.
Under the venture, the Christian television company was expected to
cover distribution and production services at no cost to Merit Street,
according to the suit. TBN was also expected to make “certain
payments” to Peteski, while the Dr. Phil-owned company would provide
new programming, including original episodes of the “Dr. Phil” show
and prime-time specials, the suit stated.
Instead, the lawsuit alleges that TBN “reneged” on its
responsibilities, allegedly abusing its power as the controlling
shareholder to “advance its own interests,” as well as those of its
chief executive, Matthew Crouch. TBN also allegedly caused CrossSeed
— a company with which TBN is closely connected, and whose directors
include Crouch and TBN’s chief business officer, Frank Amedia — to
loan $25 million to Merit Street. The network then assigned a
promissory note to TCT.
TBN and TCT did not respond to a request for comment at the time of
publication.
Merit Street’s programming has included Dr. Phil’s embed with ICE
during immigration crackdowns by officers and . The network also
carried Dr. Phil’s August 2024 interview with then-presidential
candidate Donald Trump.
Just after launching Merit Street, Dr. Phil he wanted the network to be
“a destination network that you can turn on in the morning and leave
on.”
Merit Street is now seeking damages and the cost of its legal fees and
costs.
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