tronc

In 2016, Tribune Publishing responded to a takeover attempt by Gannett with a strategic rebranding, aiming to establish itself as a technology company instead of a traditional newspaper publisher. This rebranding involved renaming the company to tronc (Tribune Online Content), moving its shares from the New York Stock Exchange to NASDAQ, and announcing ambitious plans to use artificial intelligence to produce and manage content. The leadership team, composed mainly of individuals with backgrounds in healthcare technology and artificial intelligence rather than newspaper publishing, faced skepticism and ridicule from analysts and the media, who criticized the strategic pivot and expressed doubts about its viability.

Analysts confronted several challenges in valuing tronc. The company’s new strategy and rebranding efforts blurred the lines between a media company and a tech firm, complicating traditional valuation metrics. Furthermore, the lack of clarity regarding the funding for the digital transformation raised questions about the firm’s financial stability.