Independent News Co. was a magazine and comic book distribution business owned by National Periodical Publications, the parent company of DC Comics. Independent News distributed all DC publications, as well as those of a few rival publishers, such as Marvel Comics from 1957 to 1969, in addition to pulp and popular magazines. The company was founded in 1932 and operated until 1970.

In 1929, as a favor to an old client, pulp magazine publisher Harry Donenfeld gave work to the client's son, Jack Liebowitz. Donenfeld and Liebowitz had little in common, but Liebowitz soon emerged as a man who could run finances. Whereas Donenfeld would promise the world to clients without understanding the economic realities, Liebowitz was bookish and ensured bills were paid on time and helped create respectability in the firm. Soon the two men were spoken of as a partnership.

When Liebowitz first worked for Donenfeld, the latter's empire was little more than a publishing house for "sex pulp" and art nudie magazines distributed by Eastern News, a company run by Charles Dreyfus and Paul Sampliner. In 1931, Eastern News faced bankruptcy and could no longer pay its publishers; the company owed Donenfeld alone $30,000. A compromise was called for, and Donenfeld, not wanting to find himself hamstrung by a distributor again, approached Sampliner with the idea of creating the Independent News Company, a publishing house with its own distribution system.

With Sampliner running the distribution end, Donenfeld as salesman, Harry's youngest brother Irving (not to be mistaken for Harry's son: Irwin Donenfeld) as head printer, and Liebowitz running the finances, they launched Independent News in 1932. The Donenfeld brothers had begun as printers, and they continued printing the company's magazine and comic book covers even after branching into distribution.

Now Donenfeld was a distributor as well as a publisher, and was now no longer reliant on others to run his business. As a publisher, Donenfeld had managed to dodge creditors and break deals, but as a distributor, he came to rely more on Liebowitz to ensure that the company ran smoothly. Liebowitz ensured bills were paid on time and began to build trust with clients that Donenfeld's enterprises had never experienced.

In 1935, writer/entrepreneur Malcolm Wheeler-Nicholson approached Independent News in a bid to launch his comic book New Fun, having lost his previous backers due to poor sales and debts. Donenfeld accepted to distribute the comic but with a heavy loss of rights for Wheeler-Nicholson. Wheeler-Nicholson produced two more titles to be handled by Independent News, New Comics and Detective Comics (which would later see the first appearance of Batman), now under the banner of Detective Comics Inc., in which Wheeler-Nicholson was forced to take Donenfeld and Liebowitz as partners. In 1938, Donenfeld sued Wheeler-Nicholson for nonpayment and Detective Comics Inc. went into bankruptcy. Not too surprisingly, Donenfeld bought up the company and Wheeler-Nicholson's National Allied Publications in their entirety as part of the action.

The fourth publication under National Allied Publications would be Action Comics (1938). Issue #1 introduced the superhero, Superman, created by artist Joe Shuster and writer Jerry Siegel, and the character's popularity created incredible profits; not only in comic book sales, but also in merchandising such as toys, costumes and even a radio show. At the end of 1941 Donenfeld's comic businesses took in $2.6 million.

Max Gaines, future founder of EC Comics, formed All-American Publications in 1938 after successfully seeking funding from Harry Donenfeld., As Gerard Jones writes of Donenfeld's investment: