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Dr. Phil McGraw Peteski Productions said it voluntarily agreed to pay former street media employees its pre-bank compensation if legal proceedings are underway.
Founded in 2023 and launched Morit TV in 2024, MERIT Street Media is a joint venture between McGraw’s Peteski Productions and Trinity Broadcasting. Chapter 11 Bankruptcy In July, a lawsuit was filed against a network specializing in Christian programs.
According to a memorandum sent by Peteski attorneys to former street media employees and independent contractors, Dr. Phil’s production company agreed to lend enough cash to the bankrupt company to fully pay workers for their pre-bank jobs. Once Trinity was allowed to postpone the main hearing for three weeks, the initial loan amount was insufficient, but Peteski raised the numbers to do the “right thing.”
Peteski Productions of Dr. Phil McGraw said it voluntarily agreed to pay former street media employees their previous shift compensation because of the legal process. (Nathan Congleton/NBCU via Getty Images via Getty Images via Getty Images/NBCUNIVERSAL)
“As the process goes on, one of our top priorities is to do everything we can for the workers. We think the issue of workers’ compensation will be resolved at the July 29 hearing, but TBN requested and received a three-week delay. Given the real needs of workers, we think that’s the right thing,” a Peteski spokesperson was right. ” Fox News Numbers.
According to the memorandum, a total of 150 checks were written, totaling $925,000. These payments occur outside of official bankruptcy proceedings.
McGraw agreed to offer new episodes of his “Phil Dr. Show, Primetime Specials and other content to Merit Street, while Trinity Broadcasting contributed distribution and production services, which essentially accused Christian Broadcasting of bankruptcy.
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Dr. Phil McGraw, a Texas-based media company filed for bankruptcy on Wednesday. (Photo by Roy Rochlin/Getty Images)
Performance Street accused Trinity of breach of its obligations and abused “the position of “as a controlling shareholder of MERIT Street to improperly unsustainable debt, unilaterally burdening unsustainable merit streets, which is a promise without notice or direct breach of the promise.”
The vast majority of former street media employees were unemployed, and a few kept sticking with it according to the supervision of bankruptcy judges.
The bankruptcy filing lists estimated assets and liabilities, ranging from $10 billion. Good Street is seeking damages, legal fees, and “as the court may consider impartial and appropriate measures, further relief.”
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Trinity Broadcasting did not immediately respond to Fox News Digital’s request for comment.
