Deseret Management Corporation

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Deseret Management Corporation
Type Private
Industry Asset management company
Founded 1966 (1966)
Founders The Church of Jesus Christ of Latter-day Saints
Headquarters Salt Lake City, Utah, USA
Key people Keith B. McMullin (CEO/President)
Divisions Deseret Digital Media
Deseret Media Companies
KSL Broadcast Division
Subsidiaries Beneficial Financial Group
Bonneville International Corp.
Deseret News
Deseret Book
Hawaii Reserves
Temple Square Hospitality
Website Deseret Management Corporation

The Deseret Management Corporation (DMC) (Listeni/dɛz.əˈrɛt./[1]) is a management and holding company of for-profit businesses owned by The Church of Jesus Christ of Latter-day Saints (LDS Church). It was established in 1966[2] by church president David O. McKay[3] to hold already-existing church assets.[4]

Subsidiaries[edit]

The following are DMC subsidiaries:

Divisions[edit]

  • Deseret Digital Media: Operates the Web sites of other DMC media companies, including deseretnews.com, ksl.com and deseretbook.com.
  • Deseret Media Companies: Helps operate Deseret Management's media focused subsidiaries.
  • KSL Broadcast Division: Operates KSL-TV & KSL Newsradio in Salt Lake City, Utah, for the Bonneville International Corporation.

Leadership[edit]

In April 2012, Keith B. McMullin was named to replace Mark Willes as CEO.

Relation to LDS Church[edit]

Deseret Management Corporation is the holding company which owns the tax-paying companies that fall under the umbrella of the LDS Church. DMC's Board of Directors is made up of the church's First Presidency, three rotating members of the Quorum of the Twelve, and the Presiding Bishopric.

See also[edit]

References[edit]

  1. ^ LDS.org: "Book of Mormon Pronunciation Guide" (retrieved 2012-02-25), IPA-ified from «dĕz-a-rĕt´»
  2. ^ "About Us". Deseret Management Corporation official web site. Retrieved 2009-09-13. 
  3. ^ "Presidents of the Church". The Church of Jesus Christ of Latter-day Saints official website. Retrieved 2009-10-25. 
  4. ^ "Deseret Management hires former LA Times publisher". Salt Lake Tribune. 2009-02-04. Retrieved 2009-02-11. [dead link]
  5. ^ Deseret Mutual Benefit Administrator. "Deseret Mutual Participating Employers". Deseret Mutual website. Retrieved 5 January 2011. 

External links[edit]