Blockbuster is in talks to sell a stake to a strategic investor and yesterday received a 45-day extension from lenders to reach a deal, a source close to the situation said.

“It would be ideal to reach an out-of-court restructuring to bring new equity in the company and recapitalize the debt,” the source said.

It has until Aug. 13 to complete talks, the source said, adding that lenders would support the sale.