Dr. Phil McGraw’s Media Company Goes Bankrupt, Sues Partner TBN

On the same day it filed Chapter 11 bankruptcy, Dr. Phil McGraw’s company, Merit Street Media, filed a breach of contract suit against Trinity Broadcasting Network (TBN). The lawsuit accuses the Christian broadcasting giant of sabotage, failing to fulfill its financial obligations, and thereby placing Merit Street under a $100-million liability burden.

TBN and McGraw founded Merit Street (initially called “NewCo”) in 2023 as a joint venture between McGraw’s Peteski Productions and Trinity Broadcasting. According to the agreement, TBN would own 70% of Merit Street, while…