The NHL and NHL Players' Association were meeting for the fourth consecutive day on Friday in New York as they try to hammer out an agreement on a new collective bargaining agreement, ESPN.com reported.
A number of meetings are scheduled between the two sides for Friday.
Fehr sent a memo to players following the NHL's latest proposal on Thursday, which was a response to the union's Wednesday proposals.
Fehr seemed to caution the players about becoming too optimistic that a settlement might be imminent.
ProHockeyTalk.com obtained a copy of the entire Fehr memo, and it appears the union still has issues with revenue sharing, the league's "Make Whole" idea, and various issues regarding player contracts that "significantly reduce a player's bargaining power and give the owner much more leverage over a player for most if not all of his career."
The 55-day lockout has forced the cancellation of 327 regular-season games, including the New Year's Day Winter Classic in Michigan, and ensured that a full season won't be played.
----Florida defenseman Filip Kuba, 35, has agreed to join HC Vitkovice Steel in Czech Extraliga, according to the team's website.
---New York Islanders forward Josh Bailey has agreed to join the German Bundesliga team Bietigheim-Bissingen Steelers, according to the team's website.