Walt Disney Co. has set a new deadline for bidders making offers to acquire the specialty label Miramax Films.

This was the second time that Disney has put off the deadline, according to the Los Angeles Times.

Disney shut down the independent film unit this year, closing offices in New York and Los Angeles and laying off dozens of people. The media conglomerate began quietly courting would-be buyers for the Miramax library, which it believes could fetch 700 million dollars.

Miramax founders Bob and Harvey Weinstein, who sold the company to Disney in 1993, are among the potential bidders.

The two men are in talks with a number of possible financial partners, including supermarket magnate Ron Burkle, who runs the Yucaipa Cos. investment firm, the paper said, quoting three people familiar with the matter.

Brothers Alec and Tom Gores, who run separate investment firms, are joining together to submit a bid for Miramax's library, which boasts Oscar winners such as "Shakespeare in Love," "The English Patient" and "Chicago."

Earlier, one prospective bidder has dropped out: Washington Redskins owner Daniel Snyder, whose RedZone Capital investment firm decided not to submit an offer after reviewing documents and having discussions with Disney executives, according to the paper.

Several investment firms and independent studios -- including Lions Gate Entertainment, Summit Entertainment and Amir Malin's investment fund Qualia Capital -- have expressed interest in Miramax but balked at asking price, said the paper.

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