 | |
| Type | Private |
|---|---|
| Industry | Asset management company |
| Founded | 1966 |
| Founder | The Church of Jesus Christ of Latter-day Saints |
| Headquarters | , |
Key people | Keith B. McMullin President Sheri Dew (CCO) Kirby Brown (CFO) Gary B. Porter (Senior Vice President) Aaron Sherinian (Senior Vice President Global Reach) David Pearce (Senior Vice President and General Counsel) |
| 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 |
Deseret Management Corporation (DMC) (/ˌdɛzəˈrɛt/ ⓘ)[1] is a global operating company, managing for-profit entities affiliated with 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] 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:
- Beneficial Financial Group: insurance, investment, and retirement services.
- Bonneville International Corporation: owns radio stations nationwide, Bonneville Interactive, and Bonneville Satellite Company.
- Bonneville Communications (Boncom): Advertising agency.
- Deseret Book: publisher of church-related materials and bookstore chain.
- Deseret Mutual: Provides medical, dental, life, and disability insurance, retirement and savings benefits to DMC employees, and health insurance to the church's missionaries and general authorities.[5]
- Deseret News Publishing Company: Publishes Utah's second-largest daily newspaper, the Deseret News, along with the 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 and ksl.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 as CEO, replacing Mark Willes.[6]
In October 2021, DMC hired Aaron Sherinian to a new role of senior vice president of global reach.[7]
Relation to the 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, three rotating members of the Quorum of the Twelve, and the Presiding Bishopric.
See also
References
- ↑ churchofjesuschrist.org: "Book of Mormon Pronunciation Guide" (retrieved 2012-02-25), IPA-ified from «dĕz-a-rĕt´»
- ↑ "Our Mission". Deseret Management Corporation official website. Retrieved 2022-03-29.
- ↑ "Presidents of the Church". The Church of Jesus Christ of Latter-day Saints official website. Archived from the original on 2004-07-05. Retrieved 2009-10-25.
- ↑ "Deseret Management hires former LA Times publisher". Salt Lake Tribune. 2009-02-04. Archived from the original on 2009-02-07. Retrieved 2009-02-11.
- ↑ Deseret Mutual Benefit Administrator. "Deseret Mutual Participating Employers". Deseret Mutual website. Retrieved 5 January 2011.
- ↑ Fidel, Steve. "Deseret Management Corporation announces the retirement of CEO Mark Willes, appoints Keith B. McMullin", Deseret News, Utah, 5 April 2012. Retrieved on 22 February 2020.
- ↑ Wiks, Doug. "Deseret Management Corp. adds new senior vice president of global reach", Deseret News, Utah, 20 October 2021. Retrieved on 29 March 2022.
