Overview

• Slate reports that Merit Street Media is in bankruptcy proceedings and facing a lawsuit from Trinity Broadcasting Network alleging fraud and misrepresentation.
• The outlet averaged about 27,000 weekly viewers before Dr. Phil Primetime went on a late-June hiatus, followed by roughly 40 additional layoffs, according to the report.
• Raw Story’s summary of the Slate piece says McGraw has launched Envoy Media with Steve Harvey as a proposed citizen-journalism platform.
• Professional Bull Riders is cited as claiming Merit Street owes $3.5 million and accusing McGraw of using bankruptcy to dodge debts, as reported by Slate.
• The reporting places McGraw’s business troubles in the context of his close alignment with the White House, including high-profile appearances and on-air promotion of his ventures.