iHeartMedia Struggles to Calm Partners in Trial Over Debt

Bloomberg: iHeartMedia’s internet music service has struggled to calm industry partners, lenders and employees spooked by the bankruptcy threat created by bondholders’ attempt to declare $6 billion in senior notes in default, a top exec testified in Texas. “It’s disrupting our operating business every day,” Darren Davis, president of iHeartRadio, a digital radio service, said in the second day of a state-court trial in San Antonio.