A source who was briefed on talks between the owners and players told CBS Sports on Wednesday that there has been movement toward finalizing a new collective bargaining agreement.

"We're inching closer to a deal," said the source.

"Two sources -- one on ownership side, one union -- with direct knowledge of latest proposals are encouraged with movement on both sides," Adrian Wojnarowski of Yahoo! Sports later Tweeted.

The parties may have made progress during an unannounced Monday bargaining session, and are meeting again Wednesday.  

On Tuesday, the owners discussed revenue sharing among themselves and Ken Berger reports that observers will be "pleasantly surprised" by the commitment that the big-market owners will make to the small-market teams.