which in 1944 absorbed an affiliated concern, Max (Charlie) Gaines' and Liebowitz's All-American Publications. Liebowitz then consolidated National Comics, Independent News, and related firms into National Periodical Publications, the direct precursor of DC.[1] Later that decade, Gaines was bought out and left to form Educational Comics, Inc., better known as EC. National Periodical Publications became publicly traded on THE STOCK MARKET in 1961.