Trisha Shetty (Editor)

Deseret Management Corporation

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Type  Private
Founder  David O. McKay
Industry  Asset management company
Key people  Keith B. McMullin (CEO/President)
Divisions  Deseret Digital Media Deseret Media Companies KSL Broadcast Division
Website  Deseret Management Corporation
Founded  1966, Salt Lake City, Utah, United States
Headquarters  Salt Lake City, Utah, United States
Subsidiaries  Deseret Book, Bonneville International
Parent organization  The Church of Jesus Christ of Latter-day Saints

Deseret management corporation names new ceo


The Deseret Management Corporation (DMC) (/dɛz.əˈrɛt./) 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 by church president David O. McKay to hold already-existing church assets.

Contents

Subsidiaries

The following are DMC subsidiaries:

  • Beneficial Financial Group: insurance, investment, and retirement services.
  • Bonneville International Corporation: owns radio stations nationwide, Bonneville Communications, Bonneville Interactive, and Bonneville Satellite Company.
  • Deseret Book: LDS publisher and bookstores chain.
  • Deseret Mutual: Provides medical, dental, life, and disability insurance, retirement and savings benefits to Deseret Management Corporation employees, and health insurance to LDS Missionaries and General Authorities.
  • Deseret News Publishing Company: Publishes Utah's second-largest daily newspaper, the Deseret News, along with Mormon Times, Church News and El Observador.
  • Hawaii Reserves: manages commercial and residential properties in Lā'ie, Hawai'i.
  • Temple Square Hospitality: operates downtown Salt Lake City properties such as the Lion House and the Joseph Smith Memorial Building.
  • Utah Property Management Associates: Real estate company which manages apartments and commercial property, particularly in downtown Salt Lake City.
  • Divisions

  • 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

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

    Relation to LDS Church

    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.

    References

    Deseret Management Corporation Wikipedia


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