Dr Phil
Dr Phil McGraw appears during a broadcast of Dr Phil Primetime in Fort Worth, Texas, before his network Merit Street Media filed for bankruptcy amid lawsuits and layoffs. YouTube

Television personality Dr Phil McGraw's conservative-leaning network, Merit Street Media, has lurched from splashy launch to courtroom slog, with Chapter 11 drama, mass layoffs and a $500 million legal brawl with former partner Trinity Broadcasting Network (TBN).

Yet even as the venture reels, McGraw is already building a successor platform, Envoy Media, betting that new backers and distribution can salvage his post-daytime reinvention.

According to a report by The Wall Street Journal, Merit Street Media filed for Chapter 11 bankruptcy protection after a dispute with its key business partner, TBN, escalated into a legal war.

The filing lists between US$100 million and US$500 million in assets and liabilities, affecting more than 200 creditors.

From Talk Show King to Conservative Media Entrepreneur

Dr Phil, who became a household name through The Oprah Winfrey Show and his long-running syndicated talk show, launched Merit Street Media in 2023.

The network was marketed as a 'truth-based,' family-oriented media outlet designed to appeal to conservative audiences disenchanted with mainstream television.

As The Daily Beast reported, McGraw positioned Merit Street as a 'MAGA-friendly' media brand, part of a growing push to rival what he described as 'woke culture' in the entertainment industry.

When Dr Phil Primetime debuted in April 2024, the veteran host declared that the new platform would 'bring common sense back to media.'

The shows were carried through a partnership with TBN, which was responsible for broadcasting and infrastructure.

Financial Struggles and Mass Layoffs

The network's grand plans quickly began to falter. By August 2024, Merit Street Media had laid off roughly 30 per cent of its staff, with insiders telling reporters that many employees were let go without warning.

In the months that followed, the company lost its content partnership with Professional Bull Riders (PBR) due to alleged non-payment of fees.

A Chron.com report later confirmed that additional layoffs took place in 2025 as production slowed and technical issues--including teleprompter failures and system glitches--halted regular programming.

By the summer of 2025, Dr Phil Primetime had stopped airing new episodes entirely, with the network citing "hiatus" measures as it sought to restructure operations.

$500 Million Fraud Lawsuit

The company's most serious blow came when TBN filed a $500 million fraud and breach-of-contract lawsuit against Dr Phil and his media entities in August 2025.

According to the complaint, TBN accuses McGraw of misleading executives with inflated projections about advertising revenue, audience growth and licensing deals.

The network claims McGraw secured a $20 million 'good faith' payment and promised 160 episodes of new content, but allegedly failed to deliver.

TBN's filing, cited by The Daily Beast, alleges that Dr Phil 'duped' the Christian broadcaster into a partnership 'built on false promises and overvalued intellectual property.'

The suit also accuses him of withholding access to his Dr Phil episode library despite earlier assurances that TBN could air the content.

McGraw's camp has denied the allegations. In a statement quoted by the Las Vegas Review-Journal, a spokesperson for Dr Phil said the claims were 'absolutely false,' insisting that more than 200 new episodes had already aired on Merit Street Media.

In turn, McGraw's company filed a countersuit, alleging that TBN breached the distribution agreement by withholding payments and sabotaging the network's infrastructure.

A Tarnished Media Comeback

Despite the ongoing lawsuits, sources told People that McGraw remains 'deeply committed' to rebuilding his media presence and has already begun forming a new venture, Envoy Media, alongside comedian and talk show host Steve Harvey.

Industry observers say the bankruptcy filing could be a strategic reset, giving McGraw breathing room to restructure his assets and settle disputes.

But critics argue that the scale of the financial and reputational damage could mark the end of Dr Phil's once-dominant media career.

'His credibility as a media entrepreneur has been seriously damaged,' media analyst Ben Morris told Variety, noting that 'the optics of a MAGA-aligned empire collapsing under fraud claims' will be difficult to recover from.

After two decades as one of daytime television's most influential figures, Dr Phil's pivot into conservative broadcasting has left him in a precarious position.

Whether this is a temporary stumble or the end of his career will depend on how he navigates his mounting legal and financial challenges.

What Happens Next

  • Bankruptcy path: The Texas court will decide whether to dismiss the Chapter 11 case or convert to Chapter 7. A conversion could trigger asset sales and sharpen discovery in the TBN dispute; dismissal risks creditor actions elsewhere.
  • Litigation timeline: Expect further depositions, motions to compel and potential mediation on the $500m claims. Any settlement would likely hinge on library rights, distribution obligations and cash from new ventures.
  • Distribution math: Envoy's carriage deals and ad commitments will determine whether McGraw can fund fresh originals without over-reliance on a single partner. Early Spectrum placement is meaningful but needs replication.
  • Talent and rights: Re-signing marquee contributors and rebuilding sports or event programming will be cost-intensive; failure risks a rerun-heavy grid that undercuts growth.

Bottom Line

No, Dr Phil's career is not 'over'. Merit Street's model failed under legal, financial and distribution strain.

The comeback hinges on Envoy Media turning promised carriage into ratings and cash — and on resolving, not prolonging, the $500m fight that sank his first act.