Television

Dr. Phil’s media network is mired in bankruptcy. What happened?

It was not a good day for Dr. Phil.

Phillip McGraw, the genial celebrity psychologist who spent a career calling out the behavior of others and doling out zingers, found himself upbraided by a bankruptcy judge.

Merit Street Media, McGraw’s new network, had filed for bankruptcy protection in July, a little more than a year after he launched the media startup, and then sued its distribution partner, Trinity Broadcasting Network.

During a nearly three-hour hearing in Dallas last month, U.S. Bankruptcy Judge Scott Everett said that he’d “never seen a case” like the Chapter 11 filing McGraw’s company was attempting.

Everett cited evidence indicating McGraw had “violated” a court order by deleting “unflattering” text messages that allegedly described his plan to use the bankruptcy to “wipe out” creditor claims.

“What makes this case unique, unfortunately, is that it has been plagued with the attempted destruction of relevant evidence and less than truthful testimony by some of the key players,” said Everett, alluding to McGraw and his associates in the case.

Everett ruled that Merit Street be liquidated.

Following the hearing, a spokesperson for McGraw’s production company vigorously denied the accusation that he destroyed evidence and said he is appealing the ruling.

“Dr. McGraw’s excellent record of integrity, success and service to millions over two decades speaks for itself,” said Chip Babcock, attorney for McGraw’s production company.

The unraveling of McGraw’s media venture was a gut punch for the celebrity therapist who has assiduously built a reputation — and tremendous personal wealth — as one of the most trusted voices on television. But his fortunes faded amid a dying market for syndicated TV and clashes with a distributor and partner.

After 21 years as host of the successful syndicated talk show “Dr. Phil,” McGraw went out on his own last year. He launched Merit Street Media in Texas, a company that he said would promote “family values” and serve as an antidote to “woke” culture, only to find that his ambitions collided with a new television reality.

Unlike “Dr. Phil,” Merit Street was untethered to the well-oiled machine of Paramount Studios in Los Angeles, where it was filmed, and top-tier distribution partner CBS.

Moreover, the sheer force of McGraw’s personality could not overcome the fact that linear TV is on the wane. Syndicated daytime TV shows are no longer the cash cows they used to be as most viewers consume content through streaming and other digital outlets such as YouTube and TikTok.

“By the time he put this new company together, the ‘Dr. Phil’ era had kind of ended,” said Robert Thompson, director of the Bleier Center for Television and Popular Culture at Syracuse University. “There is a shelf life to these characters and he reached his.”

An Oprah favorite

McGraw rose from clinical psychologist to an American living room staple and self-help guru in the late 1990s after Oprah Winfrey anointed him as her protégé.

Television’s then-reigning queen hired McGraw to prepare for her libel case brought by Texas cattlemen in 1997. They claimed her comments during an episode about mad cow disease disparaged them and caused beef prices to drop.

Winfrey prevailed, but it was McGraw, a former linebacker with the commanding presence of a sheriff from an old-time western, who emerged victorious.

Oprah Winfrey sits on a chair with her legs crossed and her hands folded over her knees.

Oprah Winfrey launched “Dr. Phil” after he advised her during her Texas cattlemen’s libel trial in the late 1990s.

(Christopher Smith / Invision / AP)

Much like books, pajama sets and certain chocolate brands, McGraw became one of Oprah’s favorite things. Recast as “Dr. Phil,” she featured him during weekly segments on her hugely popular talk show, starting in 1998. By 2002, a “Dr. Phil” spinoff began airing five days a week, produced by Winfrey’s Harpo Productions.

The show was distributed by CBS Media Ventures and filmed on a soundstage at Paramount studios on Melrose Avenue with a live audience, and it became the de facto voice for home viewers.

McGraw quickly earned a massive following for dispensing advice to cheating spouses, drug addicts, troubled teens, meddling in-laws, infamous criminals and celebrities. He delivered his no-nonsense, often blunt assessments wrapped in folksy Southern sayings such as “No matter how flat you make a pancake, it’s still got two sides.”

For more than two decades, “Dr. Phil” was a top-rated syndicated daytime talk show — 11 of those seasons at No. 1 — garnering 31 Daytime Emmy nominations. He was catapulted to stardom, appearing everywhere from late-night talk shows to sitcom cameos, even a character on “Sesame Street,” Dr. Feel. In 2020, he received a star on Hollywood’s Walk of Fame.

Dr. Phil McGraw, his wife Robin McGraw, his son Jay McGraw and his wife Erica Dahm

Dr. Phil McGraw with his wife, Robin McGraw, his son Jay McGraw and his wife, Erica Dahm, as well as their two children, London and Avery, at the ceremony celebrating Dr. Phil receiving a star on the Hollywood Walk Of Fame.

(Getty Images)

McGraw leveraged “Dr. Phil” as a launching pad for his ever-growing empire of bestselling books and various ancillary businesses, including a virtual addiction recovery program, a telemedicine app and production company, Stage 29, with his son Jay McGraw that produced shows like daytime’s “The Doctors.”

But as McGraw’s popularity and influence grew, so did the controversies.

The family of Britney Spears criticized him after he visited the troubled pop star when she was hospitalized on a psychiatric hold and issued a news release saying she was “in dire need of both medical and psychological intervention.”

A spokesperson for the Spears family said, “Rather than helping the family’s situation, the celebrity psychologist caused additional damage.”

McGraw later told viewers on his show that “I definitely think if I had it to do over again, I probably wouldn’t make any statement at all. Period.”

Claims of conflict

Questions were also raised that McGraw used his show to promote businesses and products connected to his family and affiliates, sometimes without fully disclosing those ties.

In 2006, McGraw settled a lawsuit for $10.5 million with consumers who alleged that he defrauded them by making false claims about a line of nutritional and weight-loss supplements that he endorsed on “Dr. Phil.”

He faced a Federal Trade Commission investigation into false advertising and the line was eventually discontinued.

McGraw denied the allegations and did not admit to wrongdoing or misrepresentation in the settlement.

“Dr. McGraw’s career stands among the most successful in television history,” Babcock said. “His programs always have been completely transparent, with all brand integrations under full network oversight and full FCC compliance.”

The on-air promotion of McGraw’s family businesses, such as his wife Robin McGraw’s skincare line and lifestyle brand and his son Jay McGraw’s books during “integrations,” also drew scrutiny.

Dr. Phil McGraw and son Jay McGraw.

Dr. Phil McGraw and son Jay McGraw.

(Jason LaVeris / FilmMagic)

“Dr. Phil” episodes frequently featured guests suffering from addiction who were often offered the opportunity to check into a treatment facility at the end of the episode.

In 2017, an investigation by STAT News and the Boston Globe alleged that the show highlighted specific treatment facilities in exchange for those recovery programs purchasing various products affiliated with McGraw.

A spokesman for the show had denied the allegations, saying that “any suggestion that appearances on Dr. Phil’s show are linked to the purchase or use of this program is false.”

McGraw’s wattage remained undimmed. He continued to branch into new ventures. He launched a podcast in 2019, “Phil in the Blanks,” and prime-time TV shows like “Bull,” a legal drama on CBS based on his experiences as a trial strategist, and another CBS legal drama, “So Help Me Todd.”

The “Dr. Phil” show has said that since its premiere, it has provided $35 million in resources to its guests after they appeared.

During the last years of “Dr. Phil,” staffers and viewers noticed that programming began to shift away from advising relationships, parenting and money issues to more conservative and cultural issues such as immigration and transgender athletes.

“He took a political slant already, but once COVID hit, [the show] skewed more and more political,” said one former longtime “Dr. Phil” staffer who declined to be named out of fear of retaliation.

During an appearance on Fox News in April 2020, McGraw said that pandemic lockdowns would be more fatal than the virus, drawing a widespread backlash on social media.

McGraw later posted a video saying he supported CDC guidelines but was concerned about the mental health effects of long-term quarantine.

“He was very good about getting big stories, but we had no input, and believe me, if we ever wanted to or tried, we’d be just told ‘no,’” said a former executive at CBS, who declined to be named due to the sensitivity of the subject matter.

Starting over in Texas

In 2023, McGraw announced that he was leaving CBS and returning to Texas to launch a new venture and broaden his audience, citing “grave concerns for the American family” and that he was “determined to help restore a clarity of purpose as well as our core values.”

Merit Street built a studio in a former AT&T call center in Fort Worth. Many of the staffers were veterans of “Dr. Phil” or had worked on McGraw-related content and relocated from Los Angeles to Texas.

Phil McGraw, Dr. Phil, speaks next to US President Donald Trump

Dr. Phil and President Trump at the National Day of Prayer event at the White House in May.

(Mandel Ngan / AFP via Getty Images)

The network, whose name was derived from meritocracy (with shades of main street), premiered in April 2024.

“Merit Street Media will be a resource of information and strategies to fight for America and its families, which are under a cultural ‘woke’ assault as never before,” McGraw said in a statement.

McGraw aired “exclusive” interviews with Donald Trump and Robert F. Kennedy Jr. on his flagship, “Dr. Phil Primetime.”

Programming consisted of a slate of news, entertainment and conservative commentary programs with former syndicated television stars Nancy Grace and Steve Harvey, whose Steve Harvey Global had a 5% stake in the company, according to Merit’s bankruptcy filings.

In January, McGraw made headlines when he taped interviews with Trump’s top border policy advisor Tom Homan during controversial immigration raids by ICE agents in Los Angeles.

But Merit struggled to find an audience; only 27,000 viewers tuned into the network weekly during 2024, placing it at 130 out of 153 U.S. channels, according to the Hollywood Reporter.

“It’s totally false to say Merit had bad ratings,” Babcock said. “For a startup, it was like a rocket ship; at one point it passed CNN in the first few months of its existence.”

Merit soon scrapped the live audience for “Dr. Phil Primetime” and eventually production on its original programming came to a halt.

Four months after the network’s debut, the company cut 30% of its staff, including workers who had relocated from Los Angeles.

Facing mounting debts, Merit filed for bankruptcy protection in July, listing liabilities of at least $100 million.

“You could see the writing on the wall,” said the former CBS executive. “Ratings for syndication were dropping.”

While still a household name, McGraw was part of a waning breed of TV syndication stars — Judge Judy, Maury Povich and Ellen DeGeneres among them — whose shows were fast becoming nostalgic relics.

Former McGraw staffers from his CBS days said it appeared that he thought he could simply translate his name recognition and longtime popularity to the new venture, but failed to grasp the new digital media landscape.

“The programming model that he launched in 2024 was more appropriate two decades earlier,” said Syracuse University’s Thompson.

Merit Street faced internal strife as well, according to former staffers and court filings.

Former employees described tensions between Los Angeles transplants and less experienced nonunion crews.

“It was total disorganization,” said one former field producer who had worked for the “Dr. Phil” show and then relocated to Texas to work for Merit Street, who declined to be named out of fear of retribution. “Everyone kept saying this was a startup, and maybe it was. People made decisions but had no idea what they were doing,” the producer added.

A representative of McGraw’s production company conceded the startup had growing pains.

“The company thought they could produce the same quality production with less people,” he said.

Compounding matters, relations between Merit and its business and broadcast partner TBN also soured.

Merit alleged in its lawsuit that TBN provided “comically dysfunctional” technical services, with teleprompters and monitors blacked out during live programs before a studio audience.

The suit further alleged that TBN failed to pay TV distributors and had reneged on its promise to cover $100 million in production services and other costs.

McGraw, through his production company, bankrolled the struggling enterprise from December 2024 to May 2025, lending it $25 million, according to Merit’s lawsuit.

For its part, TBN accused McGraw and his production company Peteski Productions of “fraudulent inducement,” alleging in a countersuit that it had invested $100 million into Merit and that McGraw and Peteski had failed to bring in promised advertising revenue.

TBN said McGraw reached out to the company as a potential replacement for CBS as a distribution partner during the latter half of 2022.

“McGraw specifically represented to TBN that he wanted to change networks because of what he perceived to be CBS’s censorship of the content aired on the ‘Dr. Phil Show.’ As McGraw put it, ‘I don’t want snot-nose lawyers telling me what I can and can’t say on TV,’” the lawsuit states.

Instead, they claimed in their complaint, McGraw and his company engaged in a “fraudulent scheme” to fleece TBN, a not-for-profit corporation.

In a statement to Variety, a spokesperson for McGraw and his production company called TBN’s lawsuit “riddled with provable lies.”

TBN did not respond to a request for comment.

Merit also clashed with another partner: Professional Bull Riders, which in November 2024 canceled its four-year contract with Merit and pulled its content, claiming the company had failed to pay the fees it owed.

Professional Bull Riders claims Merit Street stopped paying its broadcast fees and is owed $181 million.

Professional Bull Riders claims Merit Street stopped paying its broadcast fees and is owed $181 million.

(Anadolu via Getty Images)

PBR, which later signed with Fox Nation and CBS, alleged in a separate lawsuit that Merit breached their contract and is seeking $181 million.

“We’re glad he’s being held accountable,” said Mark Shapiro, the president and chief operating officer of TKO Group Holdings, parent company of PBR, in a statement to The Times.

“Merit Street agreed to work out its differences with PBR in a confidential proceeding which is ongoing. We were therefore surprised that PBR would publicly accuse us of violating our agreement when the facts are in dispute,” the company said in an earlier statement.

Two weeks after Merit filed for bankruptcy, McGraw announced the launch of another new network, Envoy Media Co., that would include live, “balanced news,” original entertainment programming and “immersive viewer experiences,” as well as original programming from friend and former Merit stakeholder Steve Harvey.

Last month, Envoy struck a distribution deal with Charter Communications.

“Dr. McGraw remains deeply proud of his past work and the millions of people it has reached. He’s now turning that same purpose and energy toward Envoy Media,” Babcock said.

But the Merit legal drama is far from over.

TBN has since alleged that Merit Street filed for bankruptcy in bad faith as a way to secure funding for Envoy.

A spokesperson for Peteski called TBN’s allegation “blatantly false” and said Envoy is independently financed.

Earlier this month, Judge Everett rejected Merit’s motion to pause the company’s liquidation while his ruling is appealed. He cited deleted texts in which McGraw described plans by Merit to file for bankruptcy protection to “wipe out” debts from its main creditors, TBN and PBR.

“Candor to the court is critical,” said Everett during his original ruling, and then declared that Merit Street Media “was as dead as a door nail when the bankruptcy was filed.”

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How the irreverent puppets of ‘31 Minutos’ hope to win over the world

Self-centered news anchor Tulio Triviño and his reporter best friend Juan Carlos Bodoque, who has a gambling problem, have amused audiences for 22 years. Neither has aged a day. That’s because they are hand puppets — a monkey in a suit and a red rabbit in a striped shirt, respectively — at the forefront of the beloved Chilean TV show “31 Minutos.”

First conceived as a children’s program for Chile’s public television, “31 Minutos” debuted in March 2003, and now spans four seasons. A parody of a traditional newscast, the irreverent concept features dozens of peculiar puppets who populate the fictional town of Titirilquén. Their sharply absurdist misadventures and reportages are accompanied by pun-heavy, humorous original songs.

“The Muppets and ‘Sesame Street’ have been great inspirations for us,” says co-creator Pedro Peirano speaking in Spanish from Santiago, Chile, during a recent Zoom interview. “But we mixed that with a more Latin American idiosyncrasy, so it’s familiar but very different.”

Peirano voices and puppeteers Tulio, while Álvaro Díaz, the show’s other co-creator, gives life to Bodoque (who started out as a green toad before taking on his rabbit form). Among their fabric-made pals are Patana, Tulio’s niece who is a duck, field reporter Mario Hugo, a Chihuahua in a suit, and Juanín, a fuzzy white creature with no visible eyes, the newscast’s producer.

“What we set out to do, I don’t know if consciously, was to create characters who are not role models of anything,” says Peirano. “They have their flaws and their virtues; in fact, they have more flaws, especially Tulio, who is a villain, but he’s also the face of the show.”

Over the years, as the show’s popularity grew across Latin America, “31 Minutos” has transcended the small screen and spilled into other formats. Through Aplaplac, their production company, Díaz and Peirano have created “31 Minutos” live shows that tour the region, a theatrically released feature film, and even an ambitious museum exhibit.

This fall, “31 Minutos” sets its sights on the global market with the release of “Calurosa Navidad” (One Hot Christmas), their first special for Prime Video, streaming on Friday. The Spanish-language film comes on the heels of another big moment for the puppet troupe, when they performed some of their hits on NPR’s “Tiny Desk” last month.

A man in a black hoodie holding up a white fan.
Pedro Peirano, co-creator of "31 Minutos."

Co-creators Álvaro Díaz, left, and Pedro Peirano on the set of “31 Minutos: Calurosa Navidad.” (Sebastian Utreras)

Although “31 Minutos” emerged as kids’ programming, Díaz and Peirano sidestepped expectations for message-driven storylines.

“In Latin America we tend to confuse children’s television with educational television, as if everything has to be an extension of school,” says Díaz. “We wanted to quickly transform it from that into more of a family show.”

The duo met while studying journalism at the Universidad de Chile in the late 1980s, as the country transitioned from a dictatorship to a democracy. It was their compatible humor, a shared interest in film, and a desire to explore a variety of mediums that brought them together.

“We had a lot of free time to develop our interests,” says Díaz. “And you connect through those interests, even more so that’s based on your personality or your origins.”

Before “31 Minutos,” Díaz and Peirano already had experience working in written media and television, so their impulse was to parody the news world they were familiar with.

When first developing the show, which they produced after winning public funding, the puppets appeared somewhat organically, Díaz says, because neither he nor Peirano wanted to be on camera. And since the project was originally geared toward children, it seemed appropriate.

Four puppets standing next to each other in front of a giant Christmas tree decorated with colorful, shiny ornaments.

A scene from Prime Video’s “31 Minutos: Calurosa Navidad.” “We believed that by putting puppets in front of the camera — initially very simple puppets — children would immediately identify with them,” says co-creator Álvaro Díaz.

(Amazon MGM Studios)

“We believed that by putting puppets in front of the camera — initially very simple puppets — children would immediately identify with them, and we wouldn’t be forced to emphasize the children’s tone so much,” recalls Díaz. “On the contrary, the puppets were a vehicle that allowed us to tell stories that interested us.”

And while it was Díaz who first suggested puppets, Peirano, who is also a comic book author, was a lifelong fan of Jim Henson and the worlds he created, including more adult fare like “The Dark Crystal.” The first puppets they used were those that Peirano had made as a child. As self-taught puppeteers, Díaz and Peirano honed their craft along the way.

“It’s much cheaper and faster to make puppets and create this fantastical world than to produce animation,” says Peirano. “Puppets have an immediacy that also makes them fun to perform with and to improvise with.”

As is often the case with children’s shows, they needed to incorporate music. Peirano brought along his friend Pablo Ilabaca, the guitarist and composer of Chilean rock band Chancho en Piedra, who tangentially had created tracks that could work for the show.

“He showed us that music, and we immediately felt that the sound of the ’31 Minutos’ was there,” says Díaz. “There was a lo-fi quality about it. It had something candid that didn’t necessarily have an infantile tone but had a lightness. And we could add lyrics to that music.”

The editorial line for the songs was to validate childhood experiences without trying to impart any life lessons, acknowledging those feelings through comedy.

“There is a song called ‘Diente Blanco’ [White Tooth], for example, which is not about the importance of brushing or taking care of your teeth but, rather, about a child saying goodbye to a tooth he was very fond of,” explains Díaz.

As a father of three (who he hopes will eventually take on the show’s mantle), Díaz operates from a conviction that young audiences deserve quality content that’s not patronizing nor simplistic.

“The entertainment options for children in Latin America, and generally everywhere, are very poor,” says Díaz. “It’s mostly about extracting money from parents with disappointing offerings. As kind of a governing principle for ’31 Minutos,’ we want these options to improve.”

“31 Minutos” rapidly became entrenched in Chilean popular culture. Peirano remembers the exact moment when he realized its cross-generational influence.

“I heard someone whistling the show’s theme song, and it wasn’t a child — it was an adult sweeping the street,” he says. “That was the first time I said, ‘How strange, someone is actually watching it!’ ”

Two men holding and voicing puppets.

Pedro Peirano remembers the moment he realized “31 Minutos” was becoming entrenched in Chilean pop culture. “I heard someone whistling the show’s theme song, and it wasn’t a child — it was an adult sweeping the street,” he says.

(Sebastian Utreras)

For Díaz, it was when he heard the album with the first batch of songs, released about four months after the show’s debut, playing in multiple record stores around Santiago. Not long after that, they saw the first bootleg merchandise: a toy version of Mico, el Micófono, a character that is just a microphone with googly eyes that street vendors could easily replicate.

Internationally, Mexico became a key market for “31 Minutos.” The creators first realized that country’s adoration for the show when an email address where viewers could write to Tulio was flooded with more messages from Mexico than Chile.

A tribute album, “Yo Nunca Vi Television” (I Never Watched Television), where Mexican and Chilean bands reinterpreted songs from “31 Minutos,” was released in 2009. The show’s museum exhibit, “Museo 31,” visited two Mexican cities (Mexico City and Monterrey) between 2024 and 2025 after its time in Santiago at Centro Cultural La Moneda.

Díaz believes that “31 Minutos” benefited from evolving in front of a young audience who accepted the show’s peculiarities at face value. The industry these days, he thinks, demands every narrative choice be justified with substantial meaning.

“You now have to write with an explicit intention and give everything coherence, as if life is a series of very coherent interconnections,” Díaz says. “It’s impossible to make something like ‘31 Minutos’ today.”

That’s especially true, in their eyes, of the U.S. entertainment industry where one must “understand fun down to its smallest detail” even before anything has been produced.

“Much of the fun of making ’31 Minutos’ has to do with spontaneity,” says Díaz.

Nevertheless, their “Tiny Desk” concert and the Christmas special have brought them to their closest proximity yet to American audiences.

To prepare for their “Tiny Desk” performance, which features some of the show’s most emblematic puppets, the “31 Minutos” team re-created the set in Santiago — a famously tight space where bands are sandwiched between a desk and overflowing bookshelves. “We had to reduce the idea of ‘31 minutes’ to 20 minutes in a small space, without lighting, without special effects,” explains Díaz.

Tapping into current events, the running joke of their “Tiny Desk” appearance is that their work visas will expire immediately after performing.

“We didn’t intend to make a political statement, but since we were in the United States, what’s the joke in the air? That they are going to kick us — as Latin Americans, the joke is always that the U.S. wants us out,” says Peirano. “In the end, it still ends up being a commentary, and we included this crocodile puppet [as an immigration agent] because that’s the satirical nature of ‘31 Minutos.’ ”

Meanwhile, making “Calurosa Navidad” for Prime Video fulfilled their goal of entering the streaming realm. Amazon was interested in genre films, and they opted for a Christmas one.

Fans of “31 Minutos” will recognize that the story, in which Bodoque has to search for Santa and bring him to heat-stricken Titirilquén; it’s the expansion of a story from an earlier special Christmas episode that later evolved into a Christmas live show. The cheeky charm remains intact, but now it’s going to be accessible to a global audience.

Currently, Peirano splits his time between Santiago and Los Angeles. In the U.S., away from the media empire that “31 Minutos” has built in Latin America, he works as a screenwriter. His credits include the HBO series “Perry Mason.” He’s working on a project for horror outfit Blumhouse with collaborator Mauricio Katz. The two recently signed an exclusive overall deal with Sony Pictures Television.

But don’t expect Tulio or Bodoque to speak English anytime soon or for their adventures to be crafted outside of their South American homeland. Díaz has no desire to leave Chile.

“I live five kilometers from the hospital where I was born. And that’s the farthest I can be,” he says. “Chile is the reality that I understand, and, above all, that nourishes us. I like to travel and go on tour, but I hope things always happen here, with the people we know here.”

Díaz cites director Peter Jackson’s ethos to establishing WETA FX, a world-renowned digital effects company, in his home country of New Zealand instead of moving abroad, as a mindset that resembles their own — in admittedly a smaller scale.

“What we advocate for in ‘31 Minutos’ is artistic excellence from Chile,” Díaz adds. “From Chile to Latin America first, and hopefully from Chile to the world.”

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Paramount Skydance prepares $71bn bid for Warner Bros Discovery: Report | Media News

Paramount Skydance is reportedly preparing a bid to acquire Warner Bros Discovery.

Variety, an entertainment industry trade magazine in the United States, first reported the looming proposal on Tuesday, quoting sources familiar with the talks.

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The publication said the company formed an investment consortium with the sovereign wealth funds of Saudi Arabia, Qatar and Abu Dhabi to submit a $71bn bid for Warner Bros Discovery.

The report said Paramount Skydance would contribute about $50bn towards the proposed acquisition with the remainder coming from the wealth funds.

Paramount Skydance has described the involvement of the sovereign wealth funds as “categorically inaccurate”.

Paramount Skydance is now led by David Ellison, the son of Larry Ellison, cofounder of Oracle and a close ally of US President Donald Trump. Warner Bros Discovery previously rejected a bid from the Ellison family, which holds all board voting power at Paramount Skydance.

Neither Paramount nor Warner Bros Discovery responded to Al Jazeera’s request for comment.

Under the proposed structure, the wealth funds would take small minority stakes and each would receive “an IP, a movie premiere, a movie shoot”, the report said.

Warner Bros Discovery – home to the DC film universe and television studios, HBO, CNN, TNT and Warner Bros Games – is on the verge of breaking up, crippled by declines in its television business.

The company said in October that it has been considering a range of options, including a planned separation, a deal for the entire company or separate transactions for its Warner Bros or Discovery Global businesses.

Nonbinding, first-round bids are due on Thursday.

Paramount is the only company currently considering a full buyout according to the US news website Axios. Warner Bros Discovery also wants to have a deal by the end of the year, according to Axios’s reporting.

Political pressures

The looming deal is shaped in part by how the Trump administration views coverage by the news outlets owned by Warner Bros Discovery.

Netflix and Comcast are also reportedly exploring bids, but any Comcast-led effort would need regulatory approval.

Trump has also repeatedly attacked Comcast over its TV news coverage, saying the company “should be forced to pay vast sums of money for the damage they’ve done to our country”.

Comcast owns NBC News and its subsidiary Versant Media, the parent company of MS-Now – formerly MSNBC – and CNBC.

CBS, owned by Paramount Skydance, has taken a more conciliatory posture towards the administration, including hiring a Trump nominee as an ombudsman to investigate bias allegations after settling a Trump lawsuit claiming its flagship programme 60 Minutes deceptively edited an interview with 2024 Democratic presidential nominee Kamala Harris, who lost to Trump.

Paramount Skydance also recently tapped Bari Weiss, a right-leaning opinion journalist with no television background, to lead the CBS broadcast news division.

Any of the deals that are being discussed raise antitrust concerns. But if Paramount Skydance, which already owns CBS, now purchases CNN as part of Warner Bros Discovery, “that would create an added civic risk”, Rodney Benson, professor of media, culture and communication at New York University, told Al Jazeera.

“Such a deal would put two leading news outlets under the roof of the same large, multi-industry conglomerate with avowed close relations to the party in power – and that could lead to more conflicts of interest, less independent watchdog reporting and a narrowing of diverse voices and viewpoints in the public sphere,” Benson said.

Warner Bros Discovery remains the parent company of CNN.

On Wall Street, Paramount Skydance shares were up 1.7 percent in midday trading. Warner Bros Discovery was also up 2.8 percent from the market open. Comcast gained 0.5 percent, and Netflix climbed 3.5 percent.

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SAG Awards announce name change: Here come the Actor Awards

If you’ve watched the Screen Actors Guild Awards over the years, you’ve heard the name of the prize countless times, even if it hasn’t quite registered.

“And the Actor goes to … Timothée Chalamet.”

“And the Actor goes to … Demi Moore.”

“And the Actor goes to … ‘Conclave.’

Now, in an effort to lean into the name of the statuette and streamline the show’s title, the Screen Actors Guild Awards announced Friday that it is renaming the ceremony to the Actor Awards. Or, if you want to get precise (and a bit verbose): the Actor Awards presented by SAG-AFTRA.

“Now that our global audience is really growing, people don’t always understand what the union name is,” says awards committee chair JoBeth Williams. “But ‘the Actor Awards’ they recognize and they know they’re going to see their favorite actors when they tune in.”

The SAG Awards have long been a reliable precursor to the Oscars on the awards season calendar, with last year being an exception. (Chalamet, Moore and “Conclave,” winner of the guild’s best picture equivalent, the ensemble honor, did not repeat their SAG successes.)

Since the event moved to Netflix in 2024 from TNT and TBS, viewership numbers have increased, besting pre-pandemic levels. Last year, per Netflix, the ceremony received 4.3 million views on the platform.

That’s a far cry from just four years ago, when the pandemic forced ceremonies to postpone and shuffle dates, and the Grammys thought nothing of landing on the SAG Awards’ original date. (SAG-AFTRA voiced its “extreme disappointment,” then slunk off to Easter Sunday for a scheduled one-hour telecast.)

“[Netflix] saw the potential of the show to really grow an audience,” says Jon Brockett, longtime showrunner and executive producer. “We’re on 190-plus countries now on Netflix. So the simplification of the name, from a global perspective, should bring about even greater awareness to understand who we are and what we’re all about.”

Which is, in a word: actors. Like the Golden Globes, the Actor Awards (we’ll just start calling it that now, trying it out for size) reward lead and supporting performances in movies and television, and, in lieu of “best picture” or “best series,” prizes for acting ensembles. Unlike the Golden Globes, the ceremony has not been beset by scandal or raised questions about unethical self-dealing.

Nominations for the Actor Awards are chosen by two nominating committees, one for film and one for television, comprising 2,500 SAG-AFTRA members that are randomly selected each year. Winners are then selected by active SAG-AFTRA members, a massive voting body numbering more than 130,000.

“We are all doing what these folks up there on the screen do, so we have a strong sense of what it takes to do that and what it takes to make it really special,” Williams says of the awards’ voters. “The eyes of the voters are very tuned in to what actors do.”

The Actors Awards will stream live on Netflix on March 1. Nominations will be announced on Jan. 7.

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Sarah Jessica Parker to receive Golden Globes’ Carol Burnett Award

Sarah Jessica Parker is adding one more trophy to her collection.

The six-time Golden Globe-winning actor will receive the 2026 Carol Burnett Award for excellence in television. Parker will be presented with the prize, named for its inaugural winner, during the first-ever “Golden Eve” special, airing Jan. 8 on CBS and streaming on Paramount+.

The Golden Globes previously announced that Helen Mirren will be honored with the Cecil B. DeMille Award at the January ceremony, part of a celebratory “Golden Week” kicking off the awards season.

“Sarah Jessica Parker’s career embodies the very spirit of the Carol Burnett Award,” Golden Globes President Helen Hoehne said in a press release Thursday. “Her trailblazing impact on television and her dedication to storytelling across stage and screen have left an indelible mark on popular culture. We are honored to celebrate her extraordinary contributions to entertainment.”

Past winners of the Carol Burnett Award include Ted Danson (2024), Ryan Murphy (2023) and Norman Lear (2021).

Best known for her role as Carrie Bradshaw in the epoch-defining “Sex and the City” — she reprised the character for the divisive HBO sequel “And Just Like That” — Parker has also received Golden Globe nominations for her performances in the beloved 2005 Christmas comedy-drama “The Family Stone” and the HBO drama series “Divorce.”

Parker is also the co-founder of Pretty Matches Productions, alongside producer Alison Benson. With the production company, Parker and Benson have made a concerted effort to hire more women for on- and off-camera roles, exceeding standard mandates with “Divorce.”

Parker is also the founder of SJP Lit, an imprint from independent publisher Zando that has ushered in acclaimed titles including Mai Sennaar’s “They Dream in Gold” and Alina Grabowski’s “Women and Children First.”

Recently, Parker served on the judging panel for the 2025 Booker Prize.

Comedian Nikki Glaser will return as host for the 83rd annual Golden Globes ceremony, which airs Jan. 11 on CBS and streams on Paramount+.

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BBC News leaders resign after criticism of the broadcaster’s editing of a Trump speech

BBC Director-General Tim Davie and BBC News Chief Executive Deborah Turness announced Sunday they are resigning from their positions.

The departures come as the British public broadcaster has faced criticism for its editing of President Trump’s Jan. 6, 2021, speech before the Capitol riot and insurrection.

The BBC investigative series “Panorama,” in a broadcast a week ahead of the U.S. presidential election last year, featured an edited video of Trump’s speech.

Critics said that the way the speech was edited was misleading in that it cut out a section in which Trump said that he expected his supporters would demonstrate peacefully.

“I know that everyone here will soon be marching over to the Capitol building to peacefully and patriotically make your voices heard,” Trump said in the speech, during which he also urged his supporters to “fight like hell.”

In a statement, Turness acknowledged the controversy around the “Panorama” broadcast, noting, “In public life leaders need to be fully accountable, and that is why I am stepping down. While mistakes have been made, I want to be absolutely clear recent allegations that BBC News is institutionally biased are wrong.”

In a separate news release, Davie said, “In these increasingly polarized times, the BBC is of unique value and speaks to the very best of us. It helps make the UK a special place; overwhelmingly kind, tolerant and curious. Like all public organizations, the BBC is not perfect, and we must always be open, transparent and accountable.

“While not being the only reason, the current debate around BBC News has understandably contributed to my decision. Overall the BBC is delivering well, but there have been some mistakes made and as Director-General I have to take ultimate responsibility.”

Trump was impeached and criminally indicted over his role in the Jan. 6, 2021, riot and insurrection. The felony charges were dropped after he won the 2024 election, as U.S. Justice Department policy holds that a sitting president may not be criminally prosecuted.

Pressure on the broadcaster’s top executives has been growing since the Daily Telegraph newspaper published parts of a dossier complied by Michael Prescott, who had been hired to advise the BBC on standards and guidelines.

As well as the Trump edit, it criticized the BBC’s coverage of transgender issues and raised concerns of anti-Israel bias in the BBC’s Arabic service.

The 103-year-old BBC faces greater scrutiny than other broadcasters — and criticism from its commercial rivals — because of its status as a national institution funded through an annual license fee of $230 paid by all households with a television.

The BBC airs vast reams of entertainment and sports programming across multiple television and radio stations and online platforms — but it’s the BBC’s news output that is most often under scrutiny.

The broadcaster is bound by the terms of its charter to be impartial in its output, and critics are quick to point out when they think it has failed. It’s frequently a political football, with conservatives seeing a leftist slant in its news output and some liberals accusing it of having a conservative bias.

It has also been criticized from all angles over its coverage of the Israel-Hamas war in Gaza. In February, the BBC removed a documentary about Gaza from its streaming service after it emerged that the child narrator was the son of an official in the Hamas-led government.

The BBC shakeup comes as Trump has been extremely aggressive in pursuing lawsuits against U.S. media companies. Paramount Global forked over $16 million this summer after Trump complained about the editing of a Kamala Harris interview on CBS’ “60 minutes.” Last year, ABC News paid $16 million to settle Trump’s defamation lawsuit against anchor George Stephanopoulos.

The Associated Press contributed to this report.

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