Russian-born publisher Albert Lewis Kanter (1897–1973) created Classic Comics for Elliot Publishing Company in 1941 with its debut issue being The Three Musketeers. Ivanhoe and The Count of Monte Cristo. In addition to the literary adaptations, books featured author profiles, educational fillers, and an ad for the coming title. In later editions, a catalog of titles and a subscription order form appeared on back covers.

With the fourth issue The Last of the Mohicans in 1942, Kanter moved the operation to different offices and the corporate identity was changed to the Gilberton Company, Inc.. Reprints of previous titles began in 1943. Wartime paper shortages forced Kanter to reduce the 64-page format to 56 pages, and, in 1948, rising paper costs reduced books to 48 pages. The series name-changed in March 1947 to Classics Illustrated with issue 35 The Last Days of Pompeii.

In 1951, line-drawn covers were replaced with painted covers (issue 81), and the price was raised from 10 cents to 15 cents, (and, at a later date, to 25 cents). In addition to Classics Illustrated, Kanter presided over its spin-offs Classics Illustrated Junior (1953), Specials, and The World Around Us. Between 1941 and 1962, sales totaled 200 million.

The publication of new titles ceased in 1962 for various reasons. The company lost its 2nd-class mailing permit and cheap paperbacks, Cliff's Notes, and television drew readers away from the series. Kanter's last new title was issue 167 Faust (August 1962) though other titles had been planned.

(Courtesy of Wikipedia- The FREE Encyclopedia)