Tribune parent drops ‘Tronc,’ will be Tribune Publishing
Tronc, the parent company of the Chicago Tribune and several other daily newspapers, announced Thursday that it will change its name back to Tribune Publishing.
The name change will take effect at the close of business on Tuesday, a little over two years after the company first rebranded as Tronc, short for Tribune online content.
Company shares will trade under the symbol TPCO beginning Oct. 10.
“We are excited to rename the company to Tribune Publishing Company,” Tronc spokeswoman Marisa Kollias said in an email. “It’s a nod to our roots, and a reinforcement of the journalistic foundation on which all of our news brands stand.”
The New York Post reported in June that board members had voted to change the name, but were waiting on the completion of its $500 million sale of the Los Angeles Times and other California newspapers to billionaire Patrick Soon-Shiong.
The oft-ridiculed Tronc moniker was implemented under former chairman Michael Ferro in June 2016 as part of a plan to squeeze more money out of digital ads and customize news articles for readers.
Ferro stepped down as chairman in March, hours before two women came forward to accuse him of sexual misconduct. This year, he had a $208 million deal in place to sell his 25 percent stake in Tronc to McCormick Media, but that deal fell through in June.
Since then, numerous media outlets have suggested Tronc executives are exploring a possible sale to either The Donerail Group investment firm or to The McClatchy Company newspaper chain. Company officials have declined to comment.
Tronc also owns eight other newspapers including the New York Daily News, The Baltimore Sun and the Orlando Sentinel.