EXCLUSIVE: A year ago Dr. Phil and Trinity Broadcasting Network CEO Matthew Crouch sat together warning “the family in America is under attack” and of the ravages of “cancel culture.” Cut to 2025 and the past few weeks and the two ex-buddies and business partners are attacking each other and their respective companies in multi-pronged multi-million dollar lawsuits and bankruptcy proceedings over who pulled a fast one on who, how, and for how much.
However, looks like hope may just spring eternal as the parties appear to be moving towards a settlement in the $500 million dispute – or at least talking about such a settlement.
A stray remark by one of the lawyers Tuesday in an otherwise benign status conference in federal court in Texas first uncovered the revelation that the Holy War of sorts between Dr. Phil’s Merit Street Media and the self-declared world’s largest Christian network could be in its End Days. Biblical references aside, discussions between the parties, which include Phil McGraw‘s Peteski Productions as well as in the creditor camp the TKO Group Holdings‘-owned Professional Bull Riders, are in a distinctly preliminary stage, sources from both sides tell me.
To that, phrases like “we’re seeing some “progress” and “endgame” are being used as the process between multiple law firms plays out. Still, it is a long way from where things stood just over a week ago. As threats of sanctions, delays and both sides calling the other liars are in the air, an expedited hearing scheduled for September 4 could provide a roadmap of how far along the conversations are.
This week’s hearing may also indicate what the sides are willing to put up and toss out to make this admittedly rather messy business go away.
For all the bile out of the MSM Chapter 11 move of early July and the almost immediate breach of contract action against TBN, who countersued in late August over the production and distribution deal that quickly went to Hell, a slew of texts and emails introduced into the docket in the past few days put a chill on everyone. With pledges from Dr. Phil himself, Peteski’s chief operating officer Joel Cheatwood and others, the messages (many more of which TBN are seeking) promise to “wipe out all the sh*t Matt Crouch has burdened us with,’ as well as seemingly stealthily form a new Envoy company out of the financial ruins of Merit Street Media.
An overarching concern for all involved is that more such communications will come out that will prove a pox on everyone’s houses, so to speak. Which is why the lawyers are trying to craft a deal that leaves Dr. Phil and Matthew Crouch’s TBN both taking vows of silence.
On that note, neither spokespeople nor attorneys for the UTA-repped Dr. Phil, Peteski Productions or Merit Street Media responded to Deadline’s request for comment on the state of possible settlement talks. The same was true for reps of Trinity Broadcasting.
A sign hangs on a door leading to a hallway in the former Trinity Broadcasting Network building located Costa Mesa, CA (Credit: Getty Images)
Still, as talks begin between Dr. Phil and his former partners in broadcasting, Peteski Productions is pounding to have TBN CEO Crouch give a deposition next week.
Even though a previously scheduled deposition for Phil McGraw himself has still not yet happened, the Oprah discovered good doctor’s team want Crouch in the hot seat. A sword of Damocles depending on how settlement talks and Thursday’s hearing go, the TBN CEO’s depo is presently penciled in for the morning of September 8 in his lawyers’ Dallas offices.
All of which brings us to the Good Book and Isaiah 1:18: “Come now, and let us reason together.”
Amen.