Citadel Broadcasting Corp. is now in exclusive negotiations with the Walt Disney Co. to buy the Burbank-based entertainment giant’s ABC Radio unit, in a deal that could reach nearly $3 billion, Reuters reported Monday.

Las Vegas-based Citadel, a radio broadcaster majority-owned by private equity firm Forstmann Little & Co., has been an active in the ABC Radio negotiations for months but has managed to a low profile, Reuters said. Citadel owns more than 200 stations in 47 markets nationwide.

Kohlberg Kravis Roberts & Co. and Entercom Communications Corp. were previously reported to be the main bidders for the radio assets. Over the weekend, Citadel began maneuvering to push aside its rivals, Reuters said, citing sources close to the talks. Citadel has just over a week of exclusivity to pin down a deal, the Wall Street Journal reported.

Other possible bidders have included Emmis Communications Corp. and Cumulus Media Inc. Emmis pulled out of the process last year, and Disney eliminated Cumulus after saying its $2.6 billion offer was too low, Reuters said.

Disney wants to structure the deal as a reverse Morris Trust to make it tax-efficient, meaning the ABC Radio assets would be split off and then merged into Citadel, giving Disney shareholders ownership of at least half of the new company. Disney also would contribute debt to the radio unit to extract some cash.

The deal for the 72 stations could be valued between $2.6 billion and $3 billion.

Disney decided to consider a sale after the appointment of Robert Iger as the new chief executive, which prompted a review of all the media group’s assets.

Shares of Disney fell 0.8 percent to $25.52 on Monday.