Law360: Dr. Phil’s Media Co. Says It Has Reached Ch. 11 Funding Deal

Attorneys for Merit Street Media, the bankrupt broadcasting group co-founded by Dr. Phil, told a Texas bankruptcy judge Tuesday it reached deals to drum up additional Chapter 11 funding and create recoveries for unsecured creditors. “It’s an amount that’s sufficient to guarantee a recovery for unsecured creditors,” said O’Melveny partner Gregory Wilkes. The O’Melveny team advising Merit Street Media also include partners Lou Strubeck, Julian Gurule, and counsel Laura Smith.

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