Paul Singer Questioned Over iHeartMedia SWAPs Bet

As Paul Singer's Elliott Management targets iHeartMedia, and the radio station owner fights back with a lawsuit.

While it may not be a swashbuckling as commandeering an Argentine naval vessel or seizing the nation’s presidential plane in a sovereign debt dispute, hedge fund manager Paul Singer has established a new target: mainstream radio.

Paul Singer bets on iHeartMedia default using credit default SWAPs

The well-known distressed debt investor and head of Elliott Management is reported to have purchased credit default SWAPS, betting that iHeartMedia would default on its corporate debt. Legal documents reveal the firm was...