Tronc, the ostensible online media firm and newspaper publisher, has realized how stupid its name is and will be altering it back to Tribune Publishing. This was as per a report from the New York Post. The name modification happen back in 2016 as fraction of a wide rebranding of the Chicago-located company, which at that time was struggling with its lackluster public image, out-of-date business model, and its incapability to become accustomed to a media landscape, which is more and more less dependent on conventional publishing of newspaper. The modification was also an approach for the firm to distinguish itself from the Tribune Media firm from which it was originated.
The Tronc name was extensively laughed at the time as an out-of-touch method to update the look and feel of a firm partially accountable for the resource depletion and waning relevance of the nation’s primary daily newspapers. In relapsing the name back to Tribune Publishing, it appears that Tronc officials are realizing the value in a name.
The decision to modify the name was supposedly made over a month back. But Tronc management has been hanging around to declare it until after the sale of San Diego Union-Tribune, The Los Angeles Times, and other California-located newspapers to Patrick Soon-Shiong (the billionaire) and Nant Capital (his investment company). Back in February this year, when the sale was first declared, Soon-Shiong was the 2nd biggest shareholder in Tronc after ex-chairman Michael Ferro.
Now, as the LA Times agreement inks, Soon-Shiong described the name as “stupid” and stated to a journalist of the paper, “I expect that I can persuade the board to revert the name Tronc,” including that the legacy of the firm requires to be appreciated.
Speaking of Ferro, he stepped down from his job at Tronc in March 2018 just hours before allegations of sexual harassment against him were published all over the media. (He is now attempting to trade his 26% share in the company.)