CNN —
Dr. Phil’s TV network, Merit Street Media, filed for bankruptcy on Wednesday and sued Christian television giants Trinity Broadcasting Network and TCT Ministries for allegedly harming its business and contributing to its financial woes.
The lawsuit, filed by Fort Worth-based Merit Street with the US Bankruptcy Court in the Northern District of Texas, claims that TBN, the network’s broadcast partner, backed out of its obligations and instead “abused its position as the controlling shareholder.” As a result, Merit Street claims it was forced to “pay or incur obligations to third parties in excess
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