The Deseret Management Corporation (DMC) () is a global operating company, managing for-profit entities affiliated with

the Church of Jesus Christ of Latter-day Saints The Church of Jesus Christ of Latter-day Saints, informally known as the LDS Church or Mormon Church, is a Nontrinitarianism, nontrinitarian Christianity, Christian church that considers itself to be the Restorationism, restoration of the ...

(LDS Church). It was established in 1966 by church president

David O. McKay David Oman McKay (September 8, 1873 – January 18, 1970) was an American religious leader and educator who served as the ninth president of the Church of Jesus Christ of Latter-day Saints (LDS Church) from 1951 until his death in 1970. Ordain ...

to hold already-existing church assets. DMC companies provide content, services, and information through a diverse portfolio of companies, with the majority being media and communications brands.

Subsidiaries

The following are DMC

subsidiaries A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a sa ...

: *

Beneficial Financial Group Beneficial Financial Group is an insurance and financial services company based in Salt Lake City, Utah. It is a subsidiary of Deseret Management Corporation (DMC), the for-profit arm of the Church of Jesus Christ of Latter-day Saints (LDS Church) ...

: insurance, investment, and retirement services. *

Bonneville International Corporation Bonneville International Corporation is a media and broadcasting company, wholly owned by the Church of Jesus Christ of Latter-day Saints (LDS Church) through its for-profit arm, Deseret Management Corporation. It began as a radio and TV network ...

: owns

radio station Radio broadcasting is transmission of audio (sound), sometimes with related metadata, by radio waves to radio receivers belonging to a public audience. In terrestrial radio broadcasting the radio waves are broadcast by a land-based radio ...

s nationwide, Bonneville Interactive, and Bonneville Satellite Company. *Bonneville Communications (Boncom): Advertising agency. *

Deseret Book Deseret Book () is an American publishing company headquartered in Salt Lake City, Utah, that also operates a chain of bookstores throughout the western United States. It is a wholly owned subsidiary of Deseret Management Corporation (DMC), the ...

: LDS publisher and bookstores chain. *Deseret Mutual: Provides medical, dental, life, and disability insurance, retirement and savings benefits to DMC employees, and health insurance to LDS Church missionaries and General Authorities. *

Deseret News Publishing Company The Deseret News Publishing Company is a publishing company headquartered in Salt Lake City, Utah, United States. It is a subsidiary of Deseret Management Corporation (DMC), a holding company owned by the Corporation of the President of The Church ...

: Publishes Utah's second-largest daily newspaper, the ''

Deseret News The ''Deseret News'' () is the oldest continuously operating publication in the American west. Its multi-platform products feature journalism and commentary across the fields of politics, culture, family life, faith, sports, and entertainment. Th ...

'', along with the ''

Church News The ''Church News'' (or ''LDS Church News'') is a weekly tabloid-sized supplement to the ''Deseret News'' and the ''MormonTimes'', a Salt Lake City, Utah newspaper owned by the Church of Jesus Christ of Latter-day Saints (LDS Church). It is ...

'' and ''El Observador''. * Hawaii Reserves: manages commercial and residential properties in

Lā'ie, Hawai'i Laie ( haw, Lāie, ) is a census-designated place (CDP) located in the Koolauloa District on the island of Oahu () in Honolulu County, Hawaii, United States. In Hawaiian, means " leaf" ( is a climbing screwpine: ''Freycinetia arborea''). The p ...

. *

Temple Square Hospitality Temple Square Hospitality Corporation is a subsidiary of Deseret Management Corporation which provides dining, catering and other services at the Lion House, Joseph Smith Memorial Building, and other properties owned by Zions Securities Corporat ...

: operates

downtown Salt Lake City Downtown (also called City Center) is the oldest district in Salt Lake City, Utah. The grid from which the entire city is laid out originates at Temple Square, the location of the Salt Lake Temple. Location Downtown Salt Lake City is usually def ...

properties such as the Lion House and the

Joseph Smith Memorial Building The Joseph Smith Memorial Building, originally called the Hotel Utah, is a social center located on the corner of Main Street and South Temple in Salt Lake City. It is named in honor of Joseph Smith, the founder of the Latter Day Saint movement. I ...

. *

Utah Property Management Associates Utah Property Management Associates (UPMA), formerly Zions Securities Corporation (ZSC), is a subsidiary of Property Reserve Inc., which manages property owned by the Corporation of the President of The Church of Jesus Christ of Latter-day Saints ( ...

Real estate Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more general ...

company which manages apartments and commercial property, particularly in downtown Salt Lake City.

Divisions

Deseret Digital Media Deseret Digital Media, Inc. (DDM) is a subsidiary company of Deseret Management Corporation, an American holding company owned by the Church of Jesus Christ of Latter-day Saints. DDM owns newspapers and websites, as well as radio and television st ...

: Operates the web sites of other DMC media companies, including deseretnews.com and ksl.com. *Deseret Media Companies: Helps operate Deseret Management's media focused subsidiaries. *KSL Broadcast Division: Operates

KSL-TV KSL-TV (channel 5) is a television station in Salt Lake City, Utah, United States, affiliated with NBC. It is the flagship television property of locally based Bonneville International, the for-profit broadcasting arm of the Church of Jesus Chr ...

& KSL Newsradio in Salt Lake City, Utah, for the Bonneville International Corporation.

Leadership

In April 2012, Keith B. McMullin was named as CEO, replacing

Mark Willes Mark Hinckley Willes (born July 16, 1941) is a business leader who was most recently the chief executive officer of Deseret Management Corporation from 2009 to 2012. Willes was born in Salt Lake City, Utah, to Joseph S. Willes and Ruth Hinckley. H ...

. In October 2021, DMC hired Aaron Sherinian to a new role of senior vice president of global reach.Wiks, Doug
"Deseret Management Corp. adds new senior vice president of global reach"
''

'', Utah, 20 October 2021. Retrieved on 29 March 2022.

Relation to LDS Church

DMC 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 Among many churches in the Latter Day Saint movement, the First Presidency (also known as the Quorum of the Presidency of the Church) is the highest presiding or governing body. Present-day denominations of the movement led by a First Presidency ...

, three rotating members of the

Quorum of the Twelve In the Latter Day Saint movement, the Quorum of the Twelve (also known as the Council of the Twelve, the Quorum of the Twelve Apostles, Council of the Twelve Apostles, or the Twelve) is one of the governing bodies or ( quorums) of the church hie ...

, and the Presiding Bishopric.

References

{{DeseretMgt Companies based in Salt Lake City Financial services companies established in 1966 Properties of the Church of Jesus Christ of Latter-day Saints 1966 establishments in Utah

Subsidiaries

Divisions

Leadership

Relation to LDS Church

See also

References