Re: TV Thread - beware, [expletive] can get spoilery
Posted: April 25 25, 5:43 pm
Niamos
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Man. Not since Game of Thrones...
Dave Portnoy is going on air at Fox Sports. I predict he won't last a year because he's extremely unlikable, especially when you can see his dumb face while he talks. Going to be a total crash and burn.
Dr. Phil’s Bankrupt Media Company Sued Over $500 Million TV Deal
The bankruptcy of Dr. Phil’s Merit Street Media has taken another turn, with its distribution partner suing the company for fraud and breach of contract.
In a lawsuit filed in Texas federal court on Tuesday, Trinity Broadcasting accuses Dr. Phil, whose surname is McGraw, of swindling the Christian TV network under a $500 million, 10-year deal in which he allegedly failed to deliver a single episode of his flagship talk show.
...
Chief among the representations: a 40% cut in the $68 million per year cost to make Dr. Phil by moving all production to Texas and terminating all unionized employees. McGraw also said that he owned the rights the series, that CBS sold out advertising inventory for the show and that he would create new, 90-minute episodes.
With his production banner Peteski, McGraw told Trinity Broadcasting that it must sign a deal with Peteski and pay him $20 million as a gesture of good faith or he’d accept an offer from CBS to pay him $75 million annually. Anything less, he claimed, would be a “deal killer,” the lawsuit says.
Under a purported $500 million, 10-year deal, Trinity Broadcasting would provide production and distribution services to Merit Street and Peteski, in turn, would provide new content, including 160 new episodes, according to the complaint.
The relationship turned sour last year when it became clear that McGraw couldn’t deliver the viewership numbers, product integrations and advertising revenues they promised to Trinity Broadcasting, the company alleges. It says it spent more than $100 million by the end of June, some of which had to recorded as loans to Merit Street. That figure grew as Trinity Broadcasting continued to funnel up to $13 million into the production per month while McGraw failed to make a single episode, the lawsuit claims.
https://www.yahoo.com/entertainment/tv/ ... 19343.html
It really is! They just about nailed it.