Perhaps it's fitting that Dr. Phil is teaming up with Trinity Broadcasting Network, the nation's largest Christian television empire, for his new resurrection-like venture.

While Merit Street Media, the poster boy for one of the most popular hosts of the past few decades, won’t be religious in nature, Dr. Phil would like to have a little bit of the holy spirit in his corner when it launches on April 2. That’s because reaching 65 million households not only means tapping into TBN’s 30 over-the-air TV stations and distribution via free, ad-supported streaming, but also being part of TBN’s carriage agreements with DirecTV and Dish.

That's right, somehow a new cable network is launching in 2024, right in the middle of the streaming era where the old linear channels are dying.

Could Merit have picked a worse time to enter the cable channel fold? The share of U.S. households watching pay TV has fallen to 54% — the lowest point since 1989. Since 2014, big names like MTV, USA Network, AMC and Disney Channel have lost 68%, 69%, 73% and 93% of their viewership, respectively, according to Nielsen.