iHeartCommunications Inc., which is owned by radio station operator iHeartMedia Inc. , said Thursday its board has decided not to make a $106 million interest payment on 14% senior notes that mature in 2021 as it continues to hold talks with creditors on a debt restructuring. The company will make use of a 30-day grace period under the terms of its borrowing. “The board is considering options as part of its strategy to achieve a comprehensive restructuring of the company’s debt,” it said in a statement. The notes were trading at 7.50 cents on the dollar, according to trading platform MarketAxess.
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