Dr. Phil McGraw’s TV cable network, Merit Street Media, made a splash when it launched with promises of bold, viewer-focused programming. But just months after its debut, the network has filed for Chapter 11 bankruptcy. The filing, tied to a financial dispute with its broadcasting partner, has raised concerns about the future of the channel, its shows, and Dr. Phil’s primetime comeback.
Here’s a breakdown of what happened and what it means going forward.
Dr. Phil’s cable TV network files for bankruptcy
Dr. Phil McGraw’s ambitious cable TV venture, Merit Street Media, has filed for Chapter 11 bankruptcy. This development sparked questions about its future. The filing, made in the Northern District of Texas earlier this week, stems from a dispute with its broadcast partner, the Trinity Broadcasting Network (TBN). Despite the financial upheaval, sources say this isn’t the end of the road for the network. It certainly isn’t for Dr. Phil’s media ambitions.
The bankruptcy filing is viewed as a strategic move to protect the Merit Street brand, rather than a full shutdown. “Dr. Phil is deeply committed to the future of the brand and his employees,” said People’s source familiar with the situation. They added that McGraw remains “focused, energized,” and actively engaged with his team.
The legal drama began when Merit Street Media filed a lawsuit against TBN and TCT Ministries, Inc. The complaint accuses TBN, which held a controlling stake in the network, of intentionally sabotaging operations. The network alleges that TBN forced it to take on unsustainable debt and failed to make necessary distribution payments — a responsibility TBN had acknowledged in the past. As a result, Merit Street lost its national distribution channels, leaving it with nowhere to air its content.
The lawsuit claims TBN’s actions resulted in over $100 million in financial obligations and called the conduct “a conscious, intentional pattern of choices” that ultimately undermined a promising, nationally recognized network. The next chapter of Merit Street Media will depend on the outcome of ongoing legal proceedings. Whether the brand can recover from its sudden loss of distribution is also a key factor.
Originally reported by Devanshi Basu on ComingSoon.
