The spinoff of a wobbly MSNBC by NBCUniversal has left staffers in a panic, with insiders saying the news network’s freaked-out workforce feels like they’re on a sinking ship, Knewz.com can reveal.

Merit Street Media, a cable television network founded by daytime reality star Phil McGraw, aka Dr. Phil, filed for bankruptcy Wednesday and accused its Christian distributor of sabotage almost a year ...