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

Diamond Hasn't Paid Dynamite Half A Million Dollars, This Month Alone

Diamond Comic Distributors hasn't paid Dynamite Entertainment half a million dollars due, this month alone..

Dynamite Entertainment has filed new paperwork with the US Bankruptcy Courts regarding the Chapter 11 bankruptcy of Diamond Comic Distributors, now bought by Ad Populum. Dynamite is claiming that payments that should have been made over the last few weeks, for comic books and merchandise delivered, should be counted as "administrative expenses". Dynamite claims the following unpaid bills, as well as listing over a hundred pages of items which were delivered but not paid for over the last month.

4/27/25: $58,552.74
5/04/25: $233,931.36
5/11/25: $216,630.11
Total: $509,114.21

Dynamite also states that it is owed an "administrative claim for its attorneys' fees and interest at the rate stated in its accepted bid". Bleeding Cool previously reported that publishers claimed they weren't getting the payments due from Diamond as part of the Chapter 11 bankruptcy period, during which the company can continue business without being immediately responsible for past payments, just paying the post-bankruptcy declaration bill with secured funding. That seems, in Dynamite's case, not to have happened.

Dynamite Entertainment is one of the few comic book publishers that has stuck exclusively with Diamond Comic Distributors, when, due to their size, they would have had a choice to move to Penguin Random House or Lunar. Diamond owes Dynamite a quarter of a million dollars from the bankruptcy, but this bill is for twice that, totalling three-quarters of a million dollars… and might give added context as to why PRH pulled Marvel, IDW, Dark Horse and Boom from third-party Diamond distribution…

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.
• Hermes Press says Diamond doesn't want to distribute their comics anymore… or anyone's.
• But Diamond pushes back on that, as they publish a new Previews.
• And they assure comic book stores that everything is going to be fine. Honest.
• Then send a letter to publishers which looks like it isn't
• Now they are looking for more money and longer to pay it back.
• 

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