George Ross, amateur poet and professor of Literature at Mount Allison University, partnered with his childhood friend, Vancouver entrepreneur Hilroy Harrigan, to purchase the publication shortly after it debuted, and together they established the LWOT Publishing Company, which opened their first offices a year later in Moncton, New Brunswick.

Operating under the tenet that all fiction is composed of lies (with occasional truth), George Ross quickly turned the magazine into one of the most widely-read publications in the country, and helped to revolutionize Canadian writing at a time when few people in the country could name a Canadian writer.

With the faint cigar-smell of its paper stock, and its candid descriptions of complex European sexual acts, LWOT became just as popular abroad as it was in Canada. When British journalist Collin Brooks, in his weekly column, pondered somewhat condescendingly, "How has it come to pass that the world's best fiction is now coming from the colonies?" Ross responded by adding the now-famous tag-line: "The World's Greatest Fiction Magazine!"

George Ross continued to edit the magazine until his death in 1935, and in the ensuing years his family has wielded a great influence over the magazine, employing, at one time or another, both his son and daughter, three of his grandchildren, and, most recently, his great-grandson.

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