The Tribune Co. is now on the clock…

But it looks like that self-imposed deadline by Tribune for bids on the company maybe extended, thanks to an 11th-hour bid by Los Angeles billionaires Eli Broad and Ronald Burke, a $34-a-share offer to Chicago billionaire Sam Zell’s $33-a-share offer. Reportedly, the loser will have his head shaved in the ring at Wrestlemania.

Tribune Watch: Deadline Passes

The deadline passes for bids on the beleaguered Tribune Co. and is mulling two offers: one from the Chandler family, Trib’s largest shareholder, and the other from two Los Angeles billionaires. Either way, it looks like the Tribune Co. will no longer be under local control.