Owners of the National Enquirer are in talks to sell the tabloid to the California billionaire Ronald Burkle, the New York Times reported on Thursday, citing two people with direct knowledge of the negotiations.

While representatives of the National Enquirer, owned by American Media Inc (AMI), are deep in their negotiations with Burkle, the deal could still fall apart, the report added.

This comes a day after American Media said it was considering selling the tabloid and was looking at "strategic options" for the weekly.

American Media did not immediately respond to a Reuters request for comment.