By 1920, both antecedent bookstores were closed and a single new Deseret Book Company building was constructed in downtown Salt Lake City at site of the former ZCMI Center Mall. Ownership of Deseret Book was split between the "Deseret News" (70%) and the Deseret Sunday School Union (30%). However, the Union would manage the bookstore until 1932 when Deseret Book was incorporated for-profit as the "Utah Company". The "Deseret News" bought out the Sunday School Union in 1948 to become sole owner of the bookstore, but both the "Deseret News" and Deseret Book are now subsidiaries of the Deseret Management Corporation, which manages several for-profit assets of The Church of Jesus Christ of Latter-day Saints. Deseret News Press printed nearly all Deseret Book publications until the 1960s when the company began seeking other competitive bids.