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5h ago

Merit Street Media Files for Chapter 11 and Sues Trinity Broadcasting Network

Severe liquidity strains alongside Trinity Broadcasting Network’s failure to deliver promised distribution led Merit Street Media to seek court protection.

UNIVERSAL CITY, CA - SEPTEMBER 09: Dr Phil visits "Extra" at Universal Studios Hollywood on September 9, 2015 in Universal City, California. (Photo by Noel Vasquez/Getty Images)
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Overview

  • On July 2, Merit Street Media petitioned for Chapter 11 in the U.S. Bankruptcy Court for the Northern District of Texas, reporting assets and liabilities between $100 million and $500 million.
  • The network lodged a breach-of-contract lawsuit against TBN, accusing it of reneging on agreed national distribution and production services critical to the joint venture.
  • Merit Street cited a “severely strained liquidity position” and its inability to secure further outside capital as key drivers of the bankruptcy filing.
  • A separate arbitration with Professional Bull Riders remains unresolved after the sports organization withdrew its programming in November 2024 over unpaid rights fees.
  • Launched in April 2024 by Dr. Phil’s Peteski Productions and Trinity Broadcasting Network, the channel struggled with layoffs, content disputes and a shifting cable landscape.