MyPillow CEO Mike Lindell argued that Fox News refuses to air his advertisements because he hired former employee Lou Dobbs.

Last week, Lindell said Fox News had "canceled" his ads and admitted that he owes the company $7.8 million.

"As soon as their account is paid, we would be happy to accept their advertising," a Fox News spokesperson told Raw Story Friday.

"It has nothing to do with paying bills," Lindell insisted to Steve Bannon on Monday. "And I actually have been reaching out to Suzanne Scott, the CEO of Fox. I'll be reaching out to her today to find out what this is all about."

"I'm getting reports from my media buyers that they offered money on Wednesday to actually test one of our new ads," he continued. "And that's when we found out we were shut down, and so it has nothing to do with money. We're well within our credit limits there."

Instead, Lindell offered an alternate theory to explain his dispute with Fox News.

"I believe it's because we brought Lou Dobbs over to Lindell TV, and that happened on a Monday," he speculated. "This happened on a Wednesday. We have the great lineup over at Lindell TV, and his first interview was Donald Trump."