Published by Dell and Eastern Color.
According to Denis Gifford's "The American Comic Book Catalogue: The Evolutionary Era 1884-1939":
Publisher: Dell Publishing Co. (George T. Delacourte, Jr.), 149 Madison Avenue, New York.
Editor: Max C. Gaines, Eastern Color Printing Co., 50 Church Street, New York.
While "Famous Funnies- A Carnival of Comics" ( http://www.comics.org/series/66/
) had been sold in stores for 10 cents as an experiment by Max Gaines, it was originally a giveaway comic. This issue, however, was the first in the "modern" comic book format intended for direct sale to the public (in chain stores rather than newsstands) from the beginning, with a print run of 35,000. Its success led to the ongoing "Famous Funnies" title ( http://www.comics.org/series/68/
), although Dell opted not to continue so Eastern Color became that series' publisher.