Dr. Phil Launches Envoy Media Following Merit Street Bankruptcy

Phil McGraw, the celebrity psychologist known as “Dr. Phil,” is starting a new media company following the bankruptcy of an earlier startup, Merit Street Media.

Called Envoy Media Co., the new company will focus on “delivering live, balanced news, original entertainment programming and immersive viewer experiences through both traditional and emerging technologies,” according to a statement Monday.

Media personality Steve Harvey, an equity investor in Merit Street, will develop and produce original content for Envoy. The company will also have an app for “citizen journalists” to share stories from their communities. A traditional TV channel will launch later this ...