Phil "Dr" McGRAW now sued back for $500M by Trinity Broadcasting Network for swindling [View all]

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https://www.yahoo.com/entertainment/tv/articles/dr-phil-bankrupt-media-company-170919343.html

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

.... In a lawsuit filed in Texas federal court on Tuesday, Trinity Broadcasting accuses Dr. Phil, whose surname is McGraw, of swindling the Christian TV network under a $500 million, 10-year deal in which he allegedly failed to deliver a single episode of his flagship talk show. ....

McGraw’s Merit Street Media is simultaneously in bankruptcy court and suing Trinity Broadcasting for breach of contract over its downfall. The court has called the dispute anything but “routine,” mainly because McGraw conditioned a loan to Merit Street on the company winning its lawsuit against the network. ....

The relationship turned sour last year when it became clear that McGraw couldn’t deliver the viewership numbers, product integrations and advertising revenues he promised to Trinity Broadcasting, the company alleges. It says it spent more than $100 million by the end of June, some of which had to recorded as loans to Merit Street. That figure ballooned as Trinity Broadcasting continued to funnel up to $13 million into the production per month while McGraw failed to make a single episode, the lawsuit claims. ....

Trinity Broadcasting says it learned of Merit Street’s Chapter 11 filing in July, which allegedly wasn’t approved by its members on the board of directors. It accuses McGraw of plundering the company and plotting to pull the license for Dr. Phil for use at Envoy, his new venture. ....

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