Today, Bleeding Cool ran the news that DC Comics is to quit Diamond Comic Distributors, in favour of their newly created distributors UCS Comic Distributors and Lunar Distribution. In the Q&A, DC Comics blamed the existing direct market. There was plenty of gossip all round.
In the latest of a series of statements that are totally keeping me up late tonight, Steve Geppi, Founder and CEO of Diamond Comic Distributors issued the following statement regarding DC Comics announcement that they were leaving Diamond Comic Distribution entirely, wit messages of thanks to Steve Geppi and Diamond. It seems that Diamond didn't get those thanks in person. The statement reads;
Today, DC sent out a retailer communication indicating they are ending their long-standing relationship with Diamond. In April, we were informed that DC was going to begin distributing products through additional partners. At that time, they asked us to submit a proposal for a revised agreement with the understanding that Diamond would continue to be one of their distributors. Which we promptly did. They then requested an extension to June 30 which we also accommodated. Last week, DC requested an additional extension through July. We responded with questions and DC indicated they would reply today, June 5. Instead of receiving a response, today we received a termination notice. While we had anticipated this as a possible outcome, we, like so many others in the industry, are disappointed by their decision to end our partnership so abruptly at this time.
Although we had hoped to reach an agreement with DC, every great change also presents great opportunity! Rest assured, Diamond is a strong company and our success does not depend on the actions of one business partner. While we recognize this change impacts the industry, we are well-positioned to seize growth opportunities and are committed to the success of our publishing partners, the Direct Market and our industry as a whole.
We continue to be excited about the growth potential in the comic, game and toy industries as well as growth opportunities for our other Geppi Family Enterprises companies. I truly believe that our comeback will be bigger than our setback and our best days are ahead.
Thank you for you continued support and for all you do. -Steve
Chairman, Geppi Family Enterprises Founder, Diamond Comic Distributors
Those must have been tough questions… I wonder if we will ever get a peek? You can keep following the New Distributor Wars of 2020 with this link.