iHeartMedia Teeters Closer to Default on $20 Billion Debt

Bloomberg: iHeartMedia, the biggest U.S. radio broadcaster, is teetering ever closer to a default on its $20 billion debt load. The company skipped a $106 million interest payment due Feb. 1 on its 14 percent notes, kicking off a 30-day countdown to an official default. Creditors expect the company to file for bankruptcy by the end of the grace period.