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Dr. Phil McGraw’s conservative-leaning cable network Merit Street Media is filing for bankruptcy barely a year after its launch, 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,” leaving the upstart 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.”
