The move, announced on the day TM published its annual results for 2017, is expected to be approved by shareholders at the next annual general meeting, to be held on 3 May.
Trinity Mirror had its roots in the merger between Trinity plc, the then publisher of the Liverpool Echo and other regional titles, and the Mirror group in 1999.
However the group has grown exponentially since then, with the Manchester Evening News acquired in 2008, fellow regional publisher Local World in 2014, and most recently the Northern & Shell group, publishers of the Daily Express.
The company said in a statement: “Subject to shareholder approval at the next Annual General Meeting, Trinity Mirror is pleased to announce that it will be changing its name to Reach plc.
“Trinity Mirror has evolved significantly since it was formed in September 1999 following the merger of Trinity plc and Mirror Group plc, particularly since the acquisition of publishing assets from Northern & Shell and Local World. As such, the name no longer accurately reflects the Company.”
Chief executive Simon Fox said, pictured, said: “Through our content we reach millions of people every day. Our reach extends across multiple platforms in both print and digital and across the cities and communities that we serve.
“We think this is a name which better reflects what we do and what our ambitions are.”
The move was announced as TM’s annual results showed a 12.6pc fall in overall revenues during 2017 from £713m to £623m.
Pre-tax profits were down from £133.2m in 2016 to £122.5m last year.
The figures show that TM exceeded its £15m structural cost savings target of £2om by £5m and is targeting a further £15m in structural cost savings this year.
Commenting on the results, Mr Fox said: “We once again delivered a strong financial performance in what remains a difficult trading environment for the industry.”
The company’s annual report, which was also published today, showed that national advertising revenues declined by 9.8pc last year while regional advertising revenues were down 11.9pc.
Print advertising revenues for regional newsbrands were down 14,5pc while digital advertising was down 1.7pc – in contrast to the national newsbrands which saw a 2.1pc in digital revenues.