Merit Street Media, the multiplatform network founded by Dr. Phil McGraw, has filed for Chapter 11 bankruptcy less than two years after its launch, following significant layoffs amid struggles to meet its ambitious goals. The company, which reported assets and liabilities between $100 million and $500 million, has also sued its partner, Trinity Broadcasting Network, for failing to fulfill key distribution commitments.
Explain It To Me Like I’m 5: Merit Street Media, a TV company started by Dr. Phil, has gone bankrupt less than two years after opening because it wasn’t making enough money and had to let many workers go.
Want More Context? 🔎