You Didn't Need to be a Doctor to see this one Coming

Less than two years after its 2024 launch, Dr. Phil McGraw’s Merit Street Media has filed for Chapter 11 bankruptcy and is suing its distribution partner, Trinity Broadcasting (TBN), for breach of contract.

The bankruptcy filing cites a "severely strained liquidity position" and failure to secure outside capital. The lawsuit accuses TBN of failing to provide the agreed-upon national distribution, abusing its power as a controlling shareholder, and providing "shoddy production services."

Compounding its financial troubles, Merit Street is also in arbitration with the Professional Bull Riders, who pulled programming in late 2024 over allegedly unpaid rights fees.