NEWSDr. Phil McGraw's Merit Street Media Files for Bankruptcy and Sues Trinity Broadcasting: The Shocking Details Behind the Legal Drama
Dr. Phil's Merit Street Media filed for bankruptcy and sued Trinity Broadcasting in a legal battle.
July 12 2025, Published 9:00 a.m. ET
Dr. Phil McGraw's Merit Street Media is facing tough times as it files for Chapter 11 bankruptcy while simultaneously suing its distribution partner, Trinity Broadcasting, for breach of contract.
Launched in early 2024, Merit Street Media is less than two years old and featured a talk show led by McGraw as its flagship program. In its bankruptcy filing, the company cites a "severely strained liquidity position" along with the inability to secure additional outside capital. It also points to ongoing legal issues with Trinity Broadcasting and the Professional Bull Riders, which have contributed to its financial distress.
Dr. Phil McGraw launched Merit Street Media to promote news and talk shows with common-sense values.
Located in Fort Worth, Merit Street's Chapter 11 bankruptcy case unfolds in the U.S. Bankruptcy Court's North Texas Division. Alongside its filing, Merit Street is taking legal action against Trinity, alleging that the network — known for its Christian programming — failed to honor the terms of their joint venture.
Merit Street Media is suing TBN for not honoring key distribution and support commitments.
"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," a spokesperson for Merit Street said in a statement. "The suit is part of a restructuring proceeding also initiated by MSM."
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While the Professional Bull Riders organization is not directly named in the lawsuit, it is referenced in the bankruptcy filing. Merit Street acquired the rights to air PBR events on its Merit TV channel, but the organization suspended its programming in November 2024, citing that Merit Street had not made any rights payments. Currently, both parties are in arbitration.
Dr. Phil’s Merit Street Media airs Professional Bull Riders (PBR) events.
Merit TV has recently attracted attention for its revealing look at Immigration and Customs Enforcement raids in Chicago and Los Angeles. McGraw has assumed an unofficial role as a spokesperson for President Trump, advocating for these controversial operations.
To support its expenses, McGraw's Peteski Productions provided "substantial capital infusions" to Merit Street, according to the bankruptcy filing. However, the company struggled to secure a round of equity financing, which led to its Chapter 11 filing.
Merit TV spotlighted ICE raids in Chicago and L.A., while Dr. Phil unofficially defended the operations for the president.
The lawsuit against Trinity Broadcasting accuses the network of abusing its power as a controlling shareholder shortly after Merit TV's launch. The allegations include pushing Merit Street into costly distribution contracts with third parties instead of leveraging its own network of local TV stations, self-dealing by leasing TBN studio space to produce McGraw's shows, and offering "shoddy production services."
