Counted as one of the most famous and proportionately controversial figures, Phil McGraw, also known as Dr. Phil on the internet, may have found himself in a really dire legal case this time. According to Deadline, the judge overseeing the Chapter 11 Bankruptcy case filed by his production company, Merit Street Media, Inc., issued a harsh verdict.
As evidence was provided regarding his company and multi-million-dollar deals with its partners, Trinity Broadcasting, the severity of the filing brought it down to a Chapter 7 case. This means that instead of the business not being liable for any payment of debts, their assets will now be sold off to pay them instead.
The Timeline of Dr. Phil’s Production Company Bankruptcy Filing, Explained
Around the end of 2023, Dr. Phil founded Merit Street Media, Inc. (MSM), which launched in 2024 as a new media network primarily owned by the internet personality (via Chron). This was in partnership with the Matthew Crouch-run faith-based Trinity Broadcasting Network (TBN).
But in July of this year, MSM filed for Chapter 11 Bankruptcy Protection under US law, citing claims of ‘strained liquidity position’ and ‘inability to secure additional capital’ (via The Independent). The reasons were alleged to be TBN not making good on their part of the deal regarding national distribution rights and production support, among others.
But problems arose when the Professional Bull Riding League filed a suit against MSM, claiming the company still hasn’t paid $181 million in fees. And just recently, reports have also claimed that this Chapter 11 Bankruptcy filing was unjust, as cases of insider trading were also brought up by the DOJ (via Bloomberg Law).
Therefore, with the judge’s recent verdict, not only is Dr. Phil at risk of losing his company, but he may also face prison time if these claims find him guilty.
How Dr. Phil Showed His Support for President Donald Trump in the Past
People came to know about McGraw’s support for the now-President Donald Trump when, in 2024, he came out on the stage at a campaign rally at MSG to publicly show his approval for Trump (via Deadline). This became one of the many controversial highlights of Dr. Phil’s career due to the still-ongoing political tensions with the Republican candidate.
Along with this, on several occasions in the past, McGraw was seen talking about how Trump had a bad reputation because of the opposition and other cancel-culture factors. But at the same time, he also raised questions about the decisions the President has taken during his regime so far, without bashing him outright (via The List).
What are your thoughts on Dr. Phil’s support for President Donald Trump? Tell us in the comments below.
