Hollywood studio Lionsgate, a unit of Lions Gate Entertainment Corp, is looking to buy Walt Disney's Miramax film unit, the New York Post said, citing sources inside or close to Lionsgate.

Lionsgate can not only afford Miramax, but could also be left unchallenged in its bid, as rivals may choose to pursue Metro-Goldwyn-Mayer, the bigger studio which is also struggling under $3.7 billion debt load, according to the paper.

Miramax was once a top art-house studio, and its library includes Pulp Fiction, Good Will Hunting, No Country for Old Men, Clerks and Shakespeare in Love.

In January, the New York Times reported that the film unit can fetch about $700 million.

Lionsgate could not be immediately reached for comment by Reuters outside of regular U.S. business hours.

(Reporting by Sakthi Prasad in Bangalore; Editing by Hans Peters)