Citadel Broadcasting Corp
On Wednesday, Citadel faced a deadline to make a $2 million interest payment, but the status remained unclear, the paper added.
Discussions have slowed in recent days in part as some lenders have been caught off-guard by Federal Communications Commission rules intended to limit concentrated holdings of media firms, the people told the paper.
Citadel could not be immediately reached for a comment by Reuters.
In June, Citadel, which operates the ABC Radio Network, hired Lazard Freres as an advisor to evaluate options, including a possible refinancing and restructuring of its capital structure.
(Reporting by Chakradhar Adusumilli; Editing by Jon Loades-Carter)