The owner of The Philadelphia Inquirer and Daily News has missed a June 1 interest payment on $85 million of loans and is in talks with lenders for relief, according to a report released Thursday by a debt ratings agency.

Philadelphia Media Holdings LLC did not maintain the necessary senior debt-to-cash flow ratio _ which can happen when cash flow shrinks _ required by its senior lenders, according to Standard and Poor’s Leveraged Commentary and Data unit.

As a result, senior lenders blocked the company’s interest payments to $85 million in junior loans held by another group of lenders. That’s because senior lenders, who hold at least $295 million in loans, want to preserve the company’s cash for repayment of its own loans.