MUMBAI: Akin to MGM's deadline, 19 March has been set as a deadline for bidding of Miramax. By then, Disney hopes to select a winning bidder from offers and close on a sale within 30 days of the deadline.

Interested parties offer conflicting takes on how heated interest in Miramax has been. Some say Disney's suggested minimum bid of $700 million is overcooked by at least $200 million, and others claim sufficient interest to deliver offers of that level or higher.

Disney finally allowed some financial due diligence among prospective suitors during the past few weeks. But with

The studio has been conducting the Miramax auction without the assistance of an outside consultant and has been keeping everything in secret. "They're keeping things tightly under wraps," said an insider in the industry.

Disney hopes of wrapping up its auction quickly presuming one or more reasonable offer will come by the bidding deadline.