In the midst of a lengthy auction process, Tribune Co. cleared one hurdle as the deadline for nominating directors to the company’s board passed last night without incident, indicating the Chandler family has no plans to launch a proxy contest for the two nonfamily seats up for election, the Wall Street Journal reports.

The company, which reported fourth-quarter earnings yesterday, had been girding for a potential proxy contest from the Chandlers, who control three seats on the company’s 11-member board and have put in an offer for the company. The move indicates that the family has at least some expectation that the company will take dramatic action at the end of a strategic review under way.

he Chicago media giant has been considering its options since the fall, when a sagging stock price pushed the Chandlers to demand drastic action. Tribune declined to give an update yesterday on the review, but reiterated it expects to make a decision on its future during this quarter.

Tribune is considering several unappealing options — with the Chandler family among several bidders for all or parts of the company.

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