The story
Founded by Max Gaines in 1938, in Manhattan.1
Max Gaines, future founder of EC Comics, formed All-American Publications in 1939 after successfully seeking funding from Harry Donenfeld, CEO of both National Allied Publications (publisher of Action Comics and other titles) and sister company Detective Comics, Inc. (publisher of the namesake comic book). As Gerard Jones writes of Donenfeld's investment:
Harry had agreed on one condition: that [Gaines] take [Detective Comics partner] Jack Liebowitz on as his partner.... Jack would be tempted to leave and form a competing company if there was nothing to hold him. And it may well have been a way for Harry to keep Gaines under control; since Jack was still drawing a salary and significant bonuses from Detective Comics and [self-distributorship] Independent News, he wouldn't let Gaines take off on his own or act against the interests of the other companies.... Gaines became the principal and Jack Liebowitz the minority owner of All-American [Publications].
While All-American, at 225 Lafayette Street in Manhattan, was physically separated from DC's office space uptown at 480 Lexington Avenue, it used the informal "DC" logo on most of its covers for distribution and marketing reasons. In 1944, Gaines sold his share of the company to Liebowitz by June 1945, keeping only Picture Stories from the Bible as the foundation of his own new company, EC. As Jones describes:
Gaines saw the end of the superhero fad coming and wanted to get into something more durable, like children's books and magazines.... In 1944, he decided he'd had enough. He let Jack Liebowitz buy him out with a loan from Harry.... Liebowitz promptly orchestra the merger of All American Comics and Detective Comics into National Comics, of which he was the junior partner, vice president, and publisher. Next he took charge of organizing National Comics, Independent News, and their affiliated firms into a single corporate entity, National Periodical Publications".
At the end of 1944, but shortly before the merger, Gaines first rebranded All-American with its own logo, beginning with books cover-dated February 1945: All-Flash #17, Sensation Comics #38, Flash Comics #62, Green Lantern #14, Funny Stuff #3, and Mutt & Jeff #16, and the following month's All-American Comics #64 and the hyphenless All Star Comics #24. Liebowitz later merged his and Donenfeld's companies into National Comics Publications by September 30, 1946.
From Wikipedia’s article on All-American Publications, shared under CC BY-SA 4.0.4