In April, Gannett offered roughly $400 million to take over Tribune Publishing—which owns the Chicago Tribune and Los Angeles Times, along with several other newspapers.
The company’s chairman, Michael Ferro, has been fighting off the takeover attempt. On Thursday night, his efforts culminated in what some are (mockingly) calling a “glorious” rebranding: tronc. It stands for “Tribune Online Content.”
Casey Newton, The Verge’s Silicon Valley editor, explained:
Having recently fended off a hostile takeover from Gannett, the publisher of the Chicago Tribune and Los Angeles Times today united under a proud new banner—one that looks similar to, but is legally distinct from, the popular film Tron. What is a Tronc? Why, it’s “a content curation and monetization engine,” according to the press release. Sure! It is definitely a real organization and not something that is going to sell to an Asian telecom company for $100 in the spring of 2018.
Along with the new name, the company will see its stock traded on Nasdaq instead of the New York Stock Exchange, beginning June 20.