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Dr. Phil's Merit Street Media company files for bankruptcy

powergate92 said:
In a new development and turn, TBN is now suing Dr. Phil for fraud and breach of contract in relation to Merit Street.
www.hollywoodreporter.com

Dr. Phil’s Bankrupt Media Company Sued Over $500 Million TV Deal

Partner Trinity Broadcasting and Phil McGraw's Merit Street are suing each other in bankruptcy court over a purported 10-year deal under which Dr. Phil would make 160 new 90-minute episodes of his show.
www.hollywoodreporter.com www.hollywoodreporter.com
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In the meantime, Merit remains a Zombie network. I hope some resolution can be reached.
 
umfan said:
In the meantime, Merit remains a Zombie network. I hope some resolution can be reached.
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No. It needs to go away. Merit has been a disaster from day one, only accelerated by Dr. Phil's views and controversial coverage on ICE raids, among other things.

Dr. Phil has found out how hard it is to create and run a network and make it viable in today's television landscape. Oprah got lucky (OWN) but Dr. Phil, not so much but also ruined it for his crap.

I wouldn't be surprised if it shuts down within a year, if not six months. I'd be surprised if it lasts longer than that.
 
Nathan Obral said:
That's being awfully generous. I'd be surprised if Merit continues to function within the next 2-3 months.
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Technically the bankruptcy files show the Merit TV Network is supposed to shut down by the end of September unless there is a delay in the asset auction. Of course with how the bankruptcy is not going to Dr. Phil's plan so far, and may even be dismissed in another few week, there's a possibility the network could hold on longer in Auto Pilot while they figure out all the legal stuff.

On which subject, here is the results of yesterday's hearing.
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A reminder from the Dallas Morning News to wear a properly tailored suit when you go to court:

But not before Babcock — the attorney for Peteski, who wore a boxy suit and at one point suggested he might be out of his depth — stole the show.

[A private investigator] was attempting to plant a camera to surveil the company, Babcock told the court. And he had been hired by Trinity, who was destroying “the integrity of this process.”
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:ROFLMAO:
 
TBN and PBR just filed Motions for Contempt and Sanctions against Peteski Productions (Dr. Phil's Production Company) for failing and refusing to "comply with its discovery obligations and this Court’s Orders."
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