As City status was granted by an Act of Parliament, and the city's name is officially Londonderry, it will require an Act of Parliament to change it.
It was left by the wayside as there was no chance of winning.
Personally, if I continued to pay rates in the DCC area I'd be fuming at the whole thing.
Let people call it what they want, Derry/Londonderry/Stroke City, there are a lot more important things to worry about in the city like job creation, anti-social behaviour etc.
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