Latest news with #DrPhilMcGraw
The Independent
6 days ago
- Business
- The Independent
Pro bull riding league files objection of Dr. Phil's media bankruptcy saying it is owed $181 million
Professional Bull Riders, the largest bull-riding league in the world, has filed an objection to the bankruptcy proceedings of Dr. Phil McGraw 's media network, claiming it is owed $181 million. McGraw launched a conservative-leaning cable network in April 2024 called Merit Street Media. Barely a year later the network filed for bankruptcy and filed a lawsuit against its distribution partner Trinity Broadcasting for breach of contract earlier this month. In its lawsuit, the media network claimed Trinity 'reneged on its obligations and abused its position as the controlling shareholder of Merit Street,' leaving it over $100 million in debt. The Professional Bull Riders, which pulled its programming from Merit Street Media last November, has been trying to hold McGraw personally responsible for the millions it says it's owed by Merit Street. McGraw's lawyers, through legal filings, have rejected the premise that their client should be personally responsible for money Merit Street is accused of owing, according to The Dallas Morning News. It asked the court late last week to strike a provision in the network's bankruptcy case called an interested parties release, the publication reported. This provision could release non-debtor parties, such as McGraw and his Peteski Productions company, from claims from creditors, such as the bull riding league, against the debtor, which would be Merit Street Media. The bull riding league cut ties with Merit Street Media just months after signing a four-year contract with the network. At the time, the league said it was because of failure to make payments for rights fees. 'PBR honored its contract with Dr. Phil's Merit Street Media, delivered on every performance metric, and brought more than one million viewers to the new network. Dr. Phil and his company completely reneged on the deal just five months in,' the league said in a statement last Friday, per The Dallas Morning News. Chip Babcock, an attorney for Peteski Productions, called the league's objection 'more appropriate fodder for the press than the Court,' the publication reported. 'To the extent they are relevant to any issue in the case we are confident the judge will deal with it appropriately,' Babcock added.
Yahoo
7 days ago
- Business
- Yahoo
Dr. Phil McGraw's Merit Street Media Files For Chapter 11 and Sues Distribution Partner Trinity Broadcasting
Dr. Phil McGraw's Merit Street Media Files For Chapter 11 and Sues Distribution Partner Trinity Broadcasting originally appeared on Daytime Confidential. 's freshman network and streaming service, Merit Street Media, has filed for Chapter 11 bankruptcy protection and has slapped its distribution partner, Trinity Broadcasting, with a lawsuit accusing it of breach of contract. Deadline is reporting Merit Street, which launched in April 2024, has accused Trinity Broadcasting of failing to follow the terms of their deal. Media Street alleges Trinity failed to secure additional outside funding for the company. In the suit, they note a "severely strained liquidity position," as well as Trinity's current legal battles with Professional Bull Riders. In a released statement Merit Street Media: Trinity Broadcasting Network is being sued by Merit Street Media 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 Professional Bull Riders organization isn't named in the suit. However, the bankruptcy filing makes mention that their programming was yanked from the network in November 2024 after Merit Street failed to make any payments for rights. The joint venture between Merit Street and TBN stipulated McGraw's Peteski Production give Merit Street new original episodes of the Dr. Phil Show, along with primetime specials to run on the network. TBN agreed to provide Merit Street carriage to distribute McGraw's shows and specials nationwide with no charge, but TBN would have a controlling stake in the network. Merit Street accuses TBN of abusing its power as a major shareholder. They claim they were placed in expensive distribution deals with third-party entities, rather than with TBN itself. The filing took place in United States Bankruptcy Court for the Northern District of Texas (as Merit is based in Texas), with the company suing to recoup its legal costs, damages, and other compensation. This story was originally reported by Daytime Confidential on Jul 2, 2025, where it first appeared. Solve the daily Crossword
The Independent
15-07-2025
- Business
- The Independent
Dr. Phil launching new media network of ‘citizen journalists' after his first one goes bankrupt
Celebrity psychologist Dr Phil McGraw is launching a new media network that will provide opportunities for 'citizen journalists' to share their stories, less than two weeks after a similar venture went bankrupt. Envoy Media Co. will include 'live, balanced news, original entertainment programming, and immersive viewer experiences,' according to a press release shared by The Hollywood Reporter. It comes after McGraw's conservative-leaning cable network, Merit Street Media, filed for bankruptcy earlier this month, barely a year after its launch, while also suing its distribution partner, Trinity Broadcasting, for breach of contract. THC reported that Envoy Media will also include library programming and original shows from McGraw and his friend and fellow TV star Steve Harvey, who also collaborated on Merit Street. The release included that the network's app would also 'provide an opportunity for citizen journalists to share news and stories from their communities while seamlessly integrating curated user-generated content on a national scale.' In a statement following the announcement of the new network, McGraw said: 'As always, my commitment and that of the Envoy network team is to focus on real people, facing real challenges, seeking real solutions. 'By talking about things that matter to people who care, presenting facts, encouraging people to think critically, they can make up their own minds. Our disruptive technology will engage Envoy viewers at an unprecedented level in real time.' McGraw's previous attempt at a multi-platform media company came in late 2023, following his successful two-decade run as a popular daytime talk show host. Merit Street Media featured a Dr. Phil primetime program as its flagship show. 'Merit Street Media will be a resource of information and strategies to fight for America and its families, which are under a cultural 'woke' assault as never before," McGraw said in a statement at the time. 'I love this country and I believe family is the backbone of our society. Together we are going to stand strong and fight for the very soul and sanity of America and get things that matter back on track.' However, roughly four months after its official launch in April 2024, Merit Street laid off roughly 40 employees – around one-third of its total staff. In a Chapter 11 bankruptcy filing in the Northern District Court of Texas, Merit Street cited a 'severely strained liquidity position' and the inability to secure additional capital as reasons for the declaration. The subsequent lawsuit against Trinity alleged that the broadcaster 'reneged on its obligations and abused its position as the controlling shareholder of Merit Street,' leaving the channel with over $100 million in debt. 'These failures by TBN were neither unintended nor inadvertent,' the lawsuit read. '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.'
Yahoo
12-07-2025
- Politics
- Yahoo
DHS Secretary Kristi Noem and Texas Gov. Greg Abbott also showered the president with praise for visiting disaster-stricken Kerr County one week after floods struck.
President Donald Trump's roundtable on the Texas floods drifted from disaster relief to flattery when he handed the mic to TV personality Dr. Phil McGraw. Reflecting on the 'collective consciousness' shared by the flood-hit communities of Kerr County, McGraw told Trump, 'It's so inspiring for you and the first lady to come here and share this and see the fiber of these communities. That's why they rally around you and everything that you stand for here, from the border to the disasters.' The former psychologist, a vocal Trump supporter who has frequently involved himself in the administration's affairs, continued lavishing praise on the president for fulfilling what is generally considered an important part of the job.
The Independent
03-07-2025
- Business
- The Independent
Dr. Phil's anti-woke TV network files for bankruptcy, accuses Christian broadcasting partner of ‘sabotage'
Dr. Phil McGraw's conservative-leaning cable network Merit Street Media is filing for bankruptcy barely a year after it launched and is also suing its distribution partner Trinity Broadcasting for breach of contract. In its lawsuit against the Christian broadcaster, Merit Street alleged that Trinity 'reneged on its obligations and abused its position as the controlling shareholder of Merit Street' and left the upstart channel with over $100 million of debt. 'These failures by TBN were neither unintended nor inadvertent,' the lawsuit read. '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.'
