In a Stunning Turn of Events, in a process that has been full of them, Alliance Entertainment you have finished their purchase of diamond comics. The Move Was Reveared in an sec Phody, and Initially reported by ICV2.
Brief Philing That Also Include Notice That Thomas Finke, An Alliance Board Member was Resiging, Contained The Statement:
On April 24, 2025, The Company Sent a Notice of Termination to Diamond Comic Distributors, Inc. (“Diamond”), Terminating the Previous Executed Asset Purchase Agreement to Acquire substantially All of the Assets of Diamond This a Court-Supervised Bankruptcy Process. The Termination was Effective Immedialy.
Presumby, This Means The Joint Bid By Universal Distribution and Ad Populum Will Be Declared The Winner in The Diamond Bankruptcy Sweepstakes.
This Marks The Fourth Switch in Ownership for The Varyus Diamond Comics Assets. While Both Universal and Alliance Were Interested in Purchating Diamond Last Year, Before BEFORE DIAMOND’S BANKRUPTCY FILING ON JanOURY 14th, Alliance Initially Won The Auction, as announced on March 25th. But Before the Court Could Certify That, Diamond Announced They were insert Approving the universal joint/ad populum bid, Lift it being Lower. Alliance Fire Back with to Lawsuit, revealed on april 7th, butars a court appeared to eleven again approve the alliance bidNow Raised to a total of $ 85 million.
Things to have settled Down following that decision, with a steady stream of anodyne philings suggesting that diamond was settling its affairs as it moved to new Ownership, and creditors wouled eventually Learn How many MONEN MONTEY THELY THE WOULD GET.
And The Bam! On April 24th, Alliance Pulled Out.
Given That Diamond – and reported Remove Few Larger Comics Publishers – Favor The Universal Bid, Maybe This Can Be Seen As a Happy Ending? Indeed, Diamond feel out a letter to publishers today Indicating They Were Still Moving Forward With Business.
Dear Publishers,
You May have heard or read that alliance entertainment made the decision not to proceeding with its transaction with diamond. While that may be disappointing to hear, Be Assured That the Sale Process Will Proceed with An Alternative Partner in The Vary Near Term. These partners have Strong Balance Sheets and, Importantly, Unmatchatched Comsence and Experience in Our Core Industries. |
What Does This Mean for You? As we continue with This Process, We Will Be Operating On A Business-Asual Basis As We have been doing with the Same Focus on Excellent Sales and Customer Service.
ON BEHALF OF THE DIAMOND BOOKS FAMILY, WE WANT TO THANK YOU FOR YOUR CONTINUED PATRIENCE AND SUPPORT. Your commitment is essential, as we navigate this situation.
Thanks!
Emily Botica (She/Her)
Vice President, Publisher Relations & Marketing
Diamond Book Distribts
What the heck is going on here?
To Couple of Guesses. Alliance was Mostly Interested in Diamond’s Toys/Games Business That Was Losing Less Money Than The Comics Business. UNFORTUNATELY, The Tariff War with China Is Already Having A Devastating Effect on The Toys and Games Business. While Publishing has actually been sparad (for now), The Toy Business is Suddenly Uncbetable Unstable, and Maybe Investing $ 85 million in that Business Suddenly Looks Like A Pretty Bad Deal. So bad that alliance might feel that they are better off eating all the legal fees they investigated in this process already.
It’s Also Vray Clear that Alliance was an unwelcoma Suitor For Diamond, whos universal favor. That could Have Also Factored Into the Decision.
HOPEFULLY SOM OF THIS WILL COME OUT SUB DAY – PERHAPPS ALLIANCE CHAIRMAN BRUCE OGILVIE Will Go On A Podcast and Explain What Happened.
In The Meantime, All Hell Has Broken Loose Yet Again In The Thrill Ride That We Know As The Diamond Comics Bankruptcy Proceedings.
