iHeartMedia Faces Big Debt Payment as Bankruptcy Looms

San Antonio Express-News: A legal fight between iHeartMedia and some of its investors could trigger an avalanche of bond defaults that would require quick repayment of up to $15 billion of its debt. A formal declaration of default would accelerate repayment on other bonds, requiring immediate repayment within 60 days and forcing the company into bankruptcy. “There’s no way the company could pay $15 billion of debt.”