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Deseret Management Corporation (DMC) (/ ˌ d ɛ z ə ˈ r ɛ t / ⓘ) [1] is an American operating company, managing select global, 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 media assets. [4]
Some sources suggest a value as high as $265.62 billion, while others put it closer to $47.24 billion due to limited public data on the Church's finances. Former totals the value of land, real estate, investments and holdings of the Catholic Church and its institutions.
California Los Angeles: Los Angeles California East Los Angeles California (Spanish) 26-Feb-1950: California Arcadia: Los Angeles California El Cajon California: 20-Apr-1958: California San Diego: San Diego California El Dorado California: 19-Nov-1978: California Sacramento: Sacramento California Elk Grove California: 15-Jun-1969: California ...
The top 10 holdings of the Mormon church's $55 billion stock portfolio include a new AI stock. Matthew Fox. Updated August 19, 2024 at 1:11 PM. Getty Images.
The LDS Church divested itself of the Seattle stations between 1995 and 1997, but reacquired KIRO-AM 10 years later. [1] The company has also owned stations in New York City, Dallas, Kansas City, and Los Angeles at one point. In 1980 it formed Bonneville Communications Corporation, primarily to broadcast LDS General Conference.
The Los Angeles Temple was announced on March 23, 1937, by church president Heber J. Grant, when the church purchased 24.23 acres (98,000 m 2) from the Harold Lloyd Motion Picture Company. Construction was to begin soon thereafter, but financial difficulties relating to the Great Depression and World War II delayed its construction.
The LDS church’s investment branch, Property Reserve, purchased the 1.3-million-square-foot site from Codina Partners. It is not yet clear what the church plans to do with the massive property.
The Wilshire Ward Chapel, formerly known as the Hollywood Stake Tabernacle, is a meetinghouse of the Church of Jesus Christ of Latter-day Saints in Los Angeles, California. The building is listed as a Los Angeles Historic-Cultural Monument and on the Mormon Historic Sites Foundation registry.