Diamond Comic Distributors said Friday it had completed the sale of its company and assets to Universal Distribution LLC and Ad Populum, with Universal acquiring the assets of Alliance Game Distributors and Ad Populum acquiring the assets of Diamond Comic Distributors, Diamond Book Distributors, Diamond Select Toys & Collectibles, Collectible Grading Authority and other related assets.
Diamond UK remains separate from this sale process.
“We are pleased that this transaction has been completed and are confident that the publishers and retailers Diamond partnered with, our employees, and comic and games fans are in good hands with Universal and Ad Populum,” Diamond Chief Restructuring Officer Robert Gorin said in a statement.
“We are thrilled to officially welcome Alliance into the Universal Distribution family. This acquisition marks a transformative step forward in our mission to deliver exceptional service and value to retailers and publishers across North America. By combining Alliance’s respected legacy and expansive network with Universal’s operational strengths and innovation-driven approach, we are poised to elevate the distribution experience across the industry. We look forward to building on the trusted relationships Alliance has cultivated and continuing to support the growth and vibrancy of the hobby gaming community,” Angelo Exarhakos, president and CEO of Universal Distribution, said in a statement.
How the ownership change will affect comic distribution remains to be seen. There was no comment from Ad Populum, whose holdings include, among other things, toymakers NECA and Kidrobot, the Chia Pet and Elvis Presley’s Graceland estate.
That said, Comics Beat reported “massive” layoffs at Diamond after the announcement of the sale.
The move is a capstone on five years of change in the industry, starting with the COVID-19 pandemic, during which Diamond, then effectively the only game in town for comics distribution, shut down the industry for seven weeks. This led DC Comics to end its relationship with Diamond, creating partnerships with two new distributors, UCS and Lunar, the former of whom fell away within months like HDDVD against Bluray.
This inspired further mass migration from Diamond, or new agreements in which Diamond was a non-exclusive distributor or wholesaler. Penguin Random House acquired distribution deals with Marvel, IDW and Dark Horse and purchased BOOM Studios. Meanwhile, a number of smaller publishers have made the switch to Lunar (most in addition to Diamond), including Image Comics, Archie, Oni Press, Mad Cave Studios, Vault Comics, AHOY Comics and Fantagraphics.
New Jersey-based Dynamite Entertainment remains one of the few publishers that is still Diamond-exclusive.
In October, Diamond closed its Plattsburgh, New York, warehouse, leading to weeks of delayed shipments to comic shops. Diamond then entered Chapter 11 in January.
In its petition for bankruptcy protection, Diamond listed PRH as its biggest creditor, citing an unsecured claim of more than $9.2 million. Other major creditors included Bandai ($4.3 million), NECA ($2.7 million – hey, Ad Populum owns that), Disney Consumer Products ($1.7 million) and Hasbro ($1.1 million).
Hunt Valley, Maryland-based Diamond was founded in 1982 by Steve “Mamanook” Geppi. For nearly 25 years, dating to Marvel’s bankruptcy in 1996 — spawned in part by the publisher’s ill-fated attempt to own its own distributor — Diamond enjoyed dominance of comics distribution, to the point that it was investigated for being a monopoly, a case the government closed in 2000 with no further action, basically deciding it was OK if Diamond controlled all of comics because it was just comics and not, like, all books.
As always when it comes to Diamond, local comics shops will wait, watch, worry and wonder what’s next.
Meanwhile, Diamond’s competition, Lunar Distribution, continues to take on new publishers. On Thursday, U.K.-based Rebellion Publishing, the home of 2000 AD and Judge Dredd, announced it had entered into a non-exclusive distribution agreement with Lunar, meaning it will continue to ship through Diamond as well. The move will take effect this summer, with Rebellion items first appearing in Lunar’s June catalog and arriving in comic shops through Lunar in August.
Dan Grote is the editor and publisher of ComicsXF, having won the site by ritual combat. By day, he’s a newspaper editor, and by night, he’s … also an editor. He co-hosts The ComicsXF Interview Podcast with Matt Lazorwitz. He lives in New Jersey with his wife, two kids and two miniature dachshunds, and his third, fictional son, Peter Paul Winston Wisdom. Follow him @danielpgrote.bsky.social.
