A word that describes the naming process of something, because it was so much repeated, like a nick name.
Presently, The Company,(city) _______(Named thus by a general saying of a name) was a show of lights, very different from its former self.
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I'm not quite understanding your example very well, but I suspect the word you are looking for here is eponym.
An eponym is a person, place, or thing for whom or for which something is named, or believed to be named. For example, Elizabeth I of England is the eponym of the Elizabethan era. Many genericized trademarks such as aspirin, heroin and thermos are based on their original brand eponyms.
The Company, eponymously named, was a show of lights, very different from its former self.