Posted in: Comics, Current News | Tagged: Ad Populum, diamond

As Ad Populum Buys Diamond, Layoffs Hit In Sales, Services And Support

As Ad Populum officially buys Diamond Comic Distributors, layoffs begin to hit in sales, services and support

ComicSuite and Pullbox are software services provided by Diamond Comic Distributors for retailers and customers that help them manage orders, subscriptions, received product and the like. Yesterday, as I was heading to bed, I got a note telling me "Adpop/Diamond laid off comicsuite/pullbox/website tech support department…  Mid Friday afternoon, everyone in the Point of Sale Tech support department was laid off without any consideration for the retailers or employees. The future of the comicsuite and pullbox software, which many retailers have relied on for years to manage customers, subscriptions, receiving, etc., has basically ended today with the loss of the entire support team. I don't believe retailers have been notified as of yet either, but they deserve to know sooner rather than later so they can make separate records of their customer data before the software eventually stops working altogether from lack of support/updates."

And it seems that layoffs and service closures are the name of the game at Diamond Comic Distributors right now. The layoffs seem to have happened concurrently with the announcement that Ad Populum had bought Diamond and associated companies, aside from Diamond UK and Alliance Gaming, as part of the Chapter 11 bankruptcy.

Now, I am not Rich Johnson, I am Rich Johnston. But I sometimes get messages for Rich Johnson, as he does for me. Over a long 35-year career, Rich Johnson has worked in increasingly senior sales jobs at Scholastic, DC Comics, Yen Press, and Lion Forge Comics, as well as being an adjunct professor at Drexel University and Pace University, teaching publishing, book sales and graphic novels. In 2022, he was made Vice President Sales and Business Development at Diamond Book Distributors. Yesterday, he posted on LinkedIn, "The sale of Diamond Comics was finalised today, and a few minutes after the press release went out, my sales team and I (Stuart Carter [Sales Manager at Diamond Book Distributors] and Terry Helman [Diamond Books Associate Director of Online Sales]) were let go. Several others at Diamond were let go, and my heart goes out to everyone affected. I am open to work and consulting – my email is rjhnzn@yahoo.com."

Colin Powell was the Chief Relationship Officer at Geppi Family Enterprises, parent company of Diamond, and formerly Diamond's Vice President of Retailer Services since 2012. Before that, he was the General Manager of Lone Star Comics for over two decades. He is also Vice President of the Comic Book Legal Defense Fund. And Chris Powell posted, "Today appears to have been my last day at Diamond and the other Geppi Family Enterprises companies. The last 13 years have rarely been easy, but I'm just as grateful for my time here as I was for the prior 23 years at Lone Star Comics. The last 5 have been particularly challenging, with COVID and other factors, but the great people I worked with (my team, other internal teams, and SO many great suppliers and customers) got us through it all. Well, I guess not "all". Ha! I don't know what's next, whether it will be in the industry where I have spent my adult life or elsewhere. I know that whatever it is, it will have a lot to live up to. I still have things like the Comic Book Legal Defense Fund that I'm passionate about, so I will be around, maybe with more free time to bug you for donations… I hoped not to end up here, but here we are. Drop me a line if you need something or are going to be in town. Love you lots."

Responses included former DC Publisher/President Paul Levitz saying, "Thanks for all the good work for the whole field, Chris, and your positive attitude. Hope the next steps work out well for you.". Retailer Carr D'Angelo said, "I hope the rest of the world welcomes you and appreciates you as much as you welcomed me when we first met at a Diamond Summit as retailers 20+ years ago, and you really made me feel I had a place in the business. You're the best!" Ignition Press' Filip Sablik saying "Very sad to hear this news, but I also know all too well that this is often the cost of company acquisitions. You did amazing and admirable work during your time at Diamond, often despite tough positions – thank you for that. I know you'll continue to do amazing things in your next chapter. Cheering you on, my friend!" And San Diego Comic-Con's Jackie Estrada saying, "Chris, you are one of the good ones—you will be a great asset to your next employer"

And while many have other things on their mind, right now, Caitlin McCabe, Director Of Purchasing at Diamond Comic Distributors, set her LinkedIn timeline for that position from November 2017 to May 2025. There are NDAs, shellshock, and all manner of personal concerns, I understand we have just seen the top of the layoffs playing out right now.

Comic book retailer Cliff Biggers of Dr. No's Comics & Games SuperStore, in Marietta, Georgia, posted, "As of today, Diamond Comics Distributors (as we have known it for more than four decades) no longer exists. The corporate conglomerate was sold to Universal Distributors and Ad Populum, and we will get some idea of what their future plans are over the coming days and weeks. However, I am sad to hear that some of my good friends who have devoted themselves tirelessly to making Diamond a better company (sometimes having to fight against the corporate current all the way) are now laid off with no severance package, no bonus, and nothing for their hard work. When I see the immense sums that Diamond wanted (and may have been allowed) to pay a few choice executives, it's distressing to know that the people who were Diamond's front line for years got nothing to compensate them for the work they put into the company. Now we wait to see what the future holds. I've seen many distributors fall by the wayside over the years, so this is nothing new–but never in the history of this industry have we lost a distributor with forty-plus years of experience. It's a strange new world out there, and we're waiting to see who our Captain Pike will be…"

Founder of distributor Pacific Comics and former Diamond Vice President of Purchasing, Bill Schanes, replied, "Retired 13 years ago. Still feel upset by this"

Ad Populum did not respond to enquiries made yesterday. This week coming is meant to see the new Diamond August 2025 catalogue drop, with Diamond Previews out a week on Wednesday. Will that be the last? You can use these Diamond and bankruptcy tags to keep up with the latest on Bleeding Cool. Here's a timeline if you want to catch up…

• On the announcement of Chapter 11 on the 14th of January, Diamond started a 13-week bankruptcy process run by financial firm Raymond James, got financing to operate, and announced an auction for its assets.
• Those assets included Diamond Comic Distribution, Alliance Gaming Distribution, Diamond Select Toys, CGA and Diamond UK
• Universal Distribution was named the Stalking Horse bidder for Alliance Games and Diamond UK, which required a purchase commitment of thirty-nine million dollars, but with certain discounts and privileges for taking that position.
• The auction took place, and it went late. There was food and breakfasts billed for.
• And Alliance Entertainment, or AENT, was named the top bidder for the assets of $72,245,000, though not for Diamond UK. This was widely announced, including by Diamond themselves.
• Then we learned that a joint bid by Universal Distribution and Ad Populum came second and was named the back-up bid, with a bid of $69,130,000. With Universal getting Alliance and Diamond UK, and Ad Populum getting Diamond Comics, Diamond Select Toys and everything else. Basic Fun was third with fifty million.
• A court hearing with the Honorable Judge Rice in Courtroom 9-D at the United States Bankruptcy Court for the District of Maryland at 10 am was intended to ensure the legality of the bid and the process.
• But instead, over that weekend, the debtors declared that they had chosen the back-up bid from Universal and Ad Populum instead of AENT, despite AENT having bid more. No reason was given.
• AENT filed a lawsuit regarding this decision.
• It took the bankruptcy court to reverse that decision and state that AENT with the higher bid had won, though they would have to withdraw their lawsuit.
• AENT has terminated their winning bid and purchase.
• Universal Distribution and Ad Populum were back in the running
• Diamond declared "business as usual" but the courts threatened Chapter 7 over late paperwork.
• AENT sued Diamond, claiming fraud
• Diamond says it's all in hand and went back to court, wanting to be owned by Universal and Ad Populum.
• Sale of Diamond to Universal and Ad Populum was approved by the courts.
• Though Ad Populum paid more than we thought.
• Podcast blamed/credited with the current state of affairs
• Diamond tells Skyrush to stop claiming they won CGA.
• As part of court filings, Diamond released details for every comic store on account.
• We have some finality.
• Ad Populum and Universal Distribution officially acquire Diamond and related assets. And the layoffs have begun.

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