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That's according to a report in The New York Post which says hedge fund manager Paul Singer bought an insurance policy on iHeartMedia’s debt — while trying to get iHeart to file for bankruptcy.

The Wall Street Journal has the details that comes with strict guarantees. If Spotify holds an IPO in 2017, private equity firm TPG and hedge fund Dragoneer will be able to convert the debt into equity at a 20% discount to the share price of the public offering.

Greater Media will celebrate 60 years in the radio business, Thursday. The company was founded in 1956 by Yale classmates Peter Bordes and Joseph Rosenmiller. From the ownership of a single radio station in Southbridge, Massachusetts, the company now owns 21 stations in Boston, Charlotte, Detroit, Philadelphia, and New Jersey.

Perhaps not, according to a letter attorney David Oxenford has written to the FCC. Apparently Pandora isn't really sure it wants to own KXMZ in South Elder, South Dakota, a station it purchased from Jeff Warshaw's Connoisseur Media for $600K. The main reason Pandora wanted to own the station was to skirt around the ASCAP fees by saying it should be charged the same fees as radio stations -- not a pure-play streaming company -- now that it was a broadcaster. That did not work out. The Oxenford letter says Pandora is "reevaluating its broadcast strategy."

The folks at Kalil & Company tell Radio Ink that KVSO-AM in Ardmore, KKAJ-FM in Davis, KYNZ-FM in Lone Grove, and KTRX-FM, Dickson, are being sold by LKCM Radio Group to SMG-Ardmore.

NuVoodoo Media Services has appointed media and content strategist PJ Kling to the newly created position of VP for Product & Business Development. Part of Kling's responsibilities will be to expand NuVoodoo’s relationships with radio stations, artists, and record labels.

Radio's Mentoring & Inspiring Women group has announced its mentees to participate in the 2016 Mildred Carter Mentoring Program. Now in its 15th year, the program matches up-and-coming women in radio with female professionals recognized as successful radio leaders. The program has successfully mentored 35 women since it began. Here is the 2016 class of mentees....

iHeartMedia's NewsRadio 610 and NewsRadio 96.7 in New Hampshire held its second annual Make 12 Hours Count radiothon and raised over $156,000 for Veterans Count, an organization that provides financial assistance, services and resources to New Hampshire veterans, service members and their families.

Jason Wolfe gets the newly created position of Network Manager for the Howie Carr Radio Network. He'll be charge of building and expanding the reach and brand of the Howie Carr Show, which is now heard on 27 stations across New England.

Scripps owns 94.5 KTI COUNTRY in Milwaukee and the station announced Wednesday that Britt Pearson is joining the Jake & Tanner morning show as producer. Pearson will handle some on-air hosting duties. VP/GM Tom Langmyer said, "We're committed to breaking out of the industry rut of big companies that piped-in recorded voice-tracked hosts from out of the market and formats shaken out of a box."