The name change will become effective on June 20, and the company also said that it will switch its stock exchange listing from the New York Stock Exchange to Nasdaq, with the ticker symbol TRNC.
The company said that the name change reflected its transformation from a legacy news company to a content and technology company. The company announced last month that Patrick Soon-Shiong had taken a stake in the company of 12.9% for $70.5 million, as the company rejected takeover offers from Gannett. He joined the company’s board as vice chairman.
Michael Ferro, the chairman of the company, said, “Our rebranding to tronc represents the manner in which we will pool our technology and content resources to execute on our strategy.”
Tribune said earlier on Thursday that shareholders had elected all of the company’s representatives to its board, in what may be a further blow to Gannett’s bid.
The company’s new digital strategy includes the use of artificial intelligence technology for news media applications.