Trinity Broadcasting Network , former business partner of Dr. Phil ‘s now-bankrupt Merit Street Media , filed a counterclaim against the TV personality — alleging he engaged in a scheme to “fleece” the Christian broadcasting company and “enrich” himself and “his associates and affiliates.”

Merit Street Media, formed as a joint venture between TBN and Phil McGraw ‘s Peteski Productions, filed for Chapter 11 bankruptcy protection on July 2, 2025. Concurrently, Merit Street sued TBN, alleging breach of contract and claiming it “abused its position as the controlling shareholder.”

TBN, in its countersuit filed Tuesday (Aug. 19) in U.S. Bankruptcy Court in the Northern District of Texas, named as defendants McGraw and Peteski, which is the proposed debtor-in-possession lender of Me

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