Sci Fi Channel -> SyFy Channel

Recently, I had been seeing Sci Fi Channel marketing themselves all over New York that they are now re-branding themselves to SyFy. I was aware that Science Fiction Channel exists but I don't understand why it is re-branding themselves to SyFy. I honestly do not understand their brand message. They have ads all over such as on buses, bus stops, top of the bus windows, etc. Their taglines are, "Bright Lights. Greater Imagination." and "Imagine Greater." In class, we learned about getting a message across but to me, I don't understand the purpose of changing their brand name and their message. I feel that if it is a Science Fiction Channel, it should stay the way it is as an abbreviated version of Science Fiction, "Sci Fi", and it would be easier for people to understand what their "brand" is. If they wanted to change their name ti "SyFy", they should have done that in the beginning, when they are starting off their channel because to me, it seems that they are just trying to do a play on words. Nonetheless, I felt that there is no brand message and if there is, it should have been more well-executed.