[4][1][3] Following Bell's resignation, his family gained control of the Evening Star, which became a limited liability public company that was incorporated on 11 April 1895.

The Evening Star flourished under Cohen's leadership and attracted several contributors including Presbyterian minister and social reformer Rutherford Waddell.

[9] Though the Great Depression and the outbreak of the Second World War hindered the newspaper's plans for expansion, the Evening Star benefited from the post-war economic boom in New Zealand.

[3] The Evening Star's readership slowly declined during the period from the 1960s to the 1970s due to competition from commercial radio and television news.

1975, the Evening Star merged with its rival, the Otago Daily Times, to form a holding company called Allied Press.

[12] Due to the newspaper's declining revenue, Allied Press' board dissolved the Evening Star, with its last issue being published on 3 November 1979.

[6][3] Allied Press still publishes the Otago Daily Times and numerous community and farming papers throughout New Zealand, as well as running Dunedin's local television station, Channel 39, until its closure in December 2023.