Posted in: Comics, Comics Publishers, Current News, Titan | Tagged: bankruptcy, diamond

Diamond Comics Is Sold… But Who Gets Who & What About Diamond UK?

Diamond Comics has been sold but who gets what? And what about Diamond UK? And don't forget those lawsuits....

Published Wed, 30 Apr 2025 14:10:34 -0500

Almost an hour ago, Bleeding Cool ran the news that Baltimore courts today confirmed the sale of Diamond Comic Distributors to Canadian comics distributor Universal Entertainment and to pop culture IP owner Ad Populum, under the name Sparkle Pop. Now, Diamond has confirmed who gets what. They state;

"Under the agreement, Universal will acquire the assets of Alliance Game Distributors, and Ad Populum will acquire 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. The transaction is subject to final closing."

Well, that is news given that in court papers, Universal paid $49.6 million, plus or minus a few other factors and Ad Populum/Sparkle Pop only paid $7.5 million, though with certain provisos for payments owed to their own brands NECA and WizKids. That's a total of around $57 million, and indicated which company is valued in what way.

Also, the future of Diamond UK is unknown. Might it operate independently? Might Diamond just become Diamond UK? Might Nick Landau, who sold it to Diamond when it was Titan Distributors and who has been on the Unsecured Creditors Committee as Titan Publishing all this time, want it back in the fold? But it might explain why Ad Populum got a $12 million discount on their previously agreed purchase price. As that might be what Diamond UK is worth. Diamond continues;

"We are pleased that the court has approved Universal and Ad Populum's combined bid. Our priority during this process has been to minimize disruption to publishers, retailers, our employees, and comic and games fans everywhere," said Diamond Chief Restructuring Officer Robert Gorin. "We are confident that this will provide the best outcome for everyone involved."

Robert Gorin is, of course, named repeatedly in the spurned bidder, the non-related Alliance Entertainment or AENT, who bid north of $80 million, and now are suing, claiming fraud, over the way the contracts with Wizards Of The Coast were displayed… or not.

"This expansion into the U.S. market through our acquisition of Alliance Game Distributors marks a pivotal moment for Universal Distribution," said Angelo Exarhakos, President and CEO of Universal Distribution. "We're committed to building strong, transparent partnerships and ensuring that Alliance continues to serve as a reliable and resilient link in the supply chain."

"Ever since I was young, I'll never forget walking through the front door of my neighborhood shop and spotting those iconic Diamond Comic boxes, each one opening to reveal my dreams and ambitions," said Joel Weinshanker, Managing Director of Ad Populum. "We're incredibly excited to build on Diamond's remarkable legacy by bringing Ad Populum's best-in-class sales, marketing, and distribution to the next chapter."