By 1938 mounting debts forced Wheeler-Nicholson to sell his share of Detective Comics, Inc. and then to declare bankruptcy, losing control of his own Nicholson Publishing Co., Inc., the final direct successor to National Allied. Donenfeld, Liebowitz and Donenfeld's silent partner Paul Sampliner promptly bought Nicholson Publishing's two titles at bankruptcy auction and transferred them over to Detective Comics, Inc.
Later, Max Charles Gaines would partner with Liebowitz to start up All-American Comics, sharing distribution and staff with Donenfeld's operation. Except for issues cover-dated 1945, All-American books would share the same logos and branding as Detective Comics, Inc. and its corporate siblings. For 1945, All-American behaved more as a separate publisher. Also during that year, Gaines published his first title using Educational Comics, Inc. as the publishing company with an "EC" logo. By the end of the year Gaines sold his share of All-American back to Liebowitz and Donenfeld and went on to build EC into a separate company.
Eventually, Donenfeld and Liebowitz consolidated all of their companies, including those from All-American, into National Comics Publications, Inc. Prior to that consolidation the companies group as follows:
Owned solely by Major Malcolm Wheeler-Nicholson:
* National Allied Publications, Inc. (1935)
* National Allied Newspaper Syndicate, Inc. (1935 - 1936)
* More Fun Magazine, Inc. (1936)
* Nicholson Publishing Co., Inc. (1936 - 1938)
A few issues were published by "A.I. Menin, rec. Nicholson Publishing Co., Inc." during the bankruptcy proceedings in 1938.
Owned by Donenfeld, Liebowitz and/or Sampliner (Detective Comics, Inc. was initially co-owned by Wheeler-Nicholson and Liebowitz but the former was forced out in 1938):
* Detective Comics, Inc. (1937 - 1947)
* Superman, Inc. (1940 - 1947)
* World's Best Comic Company (1941 - 1947)
* Tilsam Publications (1943 - 1948)
All-American companies under M. C. Gaines and Jack Liebowitz:
* All-American Comics, Inc. (1939 - 1946)
* Jolaine Publications, Inc. (1941 - 1946)
* J. R. Publishing Co. (1941 - 1947)
* Gainlee Publishing Co. (1942 - 1946)
* Wonder Woman Publishing Co., Inc. (1942 - 1947)
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