Posted in: Boom, Comics, Comics Publishers, Current News, Dark Horse Comics, IDW, Valiant | Tagged: Ad Populum, diamond, Penguin Random House

Diamond/Ad Populum Respond To Penguin Random House Total Departure

Diamond/Ad Populum respond to Penguin Random House's decison to pull all orders from comic book stores through Diamond

In a statement, Diamond Comic Distributors/Ad Populum confirmed to Bleeding Cool today that "Diamond Comic Distributors today confirmed that Penguin Random House will end its distribution arrangement with Diamond, effective June 25, 2025." And a Diamond spokesperson issued the following statement: "It's disappointing that after years of collaboration, Penguin Random House has abruptly cut off access to product for our loyal retailers and fans. We're focused on actively working with other publishers to remedy the situation and minimize disruption." Diamond Comic Distributors states that it will continue to fulfil all orders from PRH through the 25th of June, 2025. This concerns all product, not just comics.

Earlier today, I reported on Bleeding Cool that Penguin Random House had pulled the ability for comic book retailers to order their Marvel, Dark Horse, IDW, TokyoPOP, Boom Studios and Dstlry titles through Diamond Comic Distributors as a third-party distributor. Retailers can no longer order Marvel, Dark Horse, IDW, TokyoPOP, Boom Studios or Dstlry, through Diamond. It's Penguin Random House only.

You can use these Diamond, Ad Populum, Penguin Random House 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 breakfast 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.
• The layoffs have begun.
• And continue.
• Diamond Select Toys has closed
• Diamond try and reassure retailers over ComicSuite
• Courts withdraw Chapter 7 bankruptcy threat
• We look at the future of Diamond Previews again
• PRH pulls out of Diamond entirely
• Well, not entirely, the UK can stay.

Enjoyed this? Please share on social media!

Stay up-to-date and support the site by following Bleeding Cool on Google News today!