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Universal Distribution will offer DC Comics titles to US retailers at the same discount offered by Lunar Distribution
Posted in: Comics, Current News | Tagged: diamond, retailerlunch, sdcc
SDCC Gossip: What's Happening With Diamond At San Diego Comic-Con?
SDCC GOSSIP: What's Happening with Diamond Comics at San Diego Comic-Con then? Is someone taking their place?
As part of Diamond Comic Distributor's Chapter 11 Bankruptcy, they have listed the contract they have with San Diego Comic-Con to man a booth every year at the show. But what now? An employee still at Diamond with knowledge of the situation tells me that "Diamond is not attending San Diego Comic-Con this year for a simple reason: there is no one left at Diamond to do the work. The people in Marketing who would have overseen the booth layout, designed the booth graphics, and organised the whole shebang from shipments to flights to hotel rooms were with Alliance Games (formerly of Diamond) and are now with Universal Distribution. The people who would have selected the product that would have been on display at the booth are all now with Alliance Entertainment (AENT). Unless Ad Populum takes the booth space and does all the prep themselves, Diamond will not have a presence in San Diego. Diamond doesn't have the manpower to make it happen."
It's not the only presence Diamond traditionally has at the show, either. It usually hosts the Retailer Lunch on Fridays, where publishers pitch their upcoming work to creators, who are fed and feted. There are also plenty of retailer-exclusive variant covers, the subsequent sales of which often fund the comic book retailer in question's trip to the show.
I understand from excellent sources that this year, as well as Lunar Distribution, as well as hosting they now-traditional appreciation party for retailers again, on the Thursday of the show at the Whiskey House from 7 pm, will also be taking over one hour of the retailer lunch slot, a publisher presentation to Lunar's registered retailers on the Friday from noon to 1 pm in the traditional location of Room 31ABC. As it stands, I hear that comic book retailer activist pressure group, ComicsPro, is trying to find someone else to take the second hour left of the Diamond time slot. Maybe either Universal or AENT might like to step up? More news as I hear it.
You can use this Diamond tab to keep up with the latest on the bankruptcy situation at Bleeding Cool and find out how we got here, below.
- 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 Gaming and Diamond UK, and Ad Populum getting Diamond Comics, Diamond Select Toys and everything else. Basic Fun was third with fifty million.
- Bruce Ogilvie, AENT chairman, was invited onto a podcast with comic book retailers Dennis Barger and Jesse James after, apparently, watching my performance on the Beyond Wednesdays podcast in which he talked about AENT and Diamond.
- 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.
- Dynamite would like half a million now, please.
- Udon and Manga Classic have now cancelled all Diamond orders.
- Then so did Drem Productions
- And PRH starts to close their special retailer joining offer
- Diamond gets a fourth wave of funding and deadlines.
- Philbo Distribution launches.
- Alliance Entertainment hire seven senior Diamond staffers.
- Universal Distribution rumoured to be hiring Diamond staffers to enter the US market.
- Massive Distribution expands within Lunar
- Diamond has cancelled all their PRH orders.
- There are problems with Ad Populum's first payments to comics publishers
- Ad Populum sues AENT alleging breaches of confidentiality and staff poaching.
- Ad Populum still ghosting publishers.
- Bankruptcy timeline revealed it began in July 2024
- Diamond ends cash on delivery sales
- Hermes Press hires Steve Leaf
- Diamond responds to Dynamite
- Diamond closes No Cost Orders, sends out reminder emails to comic book stores
- Boom Studios makes layoffs.
- Zenescope pulls out of Diamond.
- AENT Says Diamond Claim They Poached Staff "Fails As A Matter Of Law"
- It's Claimed New Diamond Owner Said He's "Playing Chicken With Idiots"
- Mike Schimmel Talks, Under Oath, About The Diamond Comics Firings
- Dynamite jumps to Lunar Distribution
- Diamond takes Previews digital only
- Universal Distribution to distribute in the USA as well as Canada, starting with DC Comics
- Conflicting Statements Over Diamond, AENT And Ad Populum Lawsuits
- This Week, There Are Only Five Comics On Diamond's FOC
- Robert Gorin, Chief Restructuring Officer Of Diamond Comics, And Geek
- Titan Has Not Received Payments From Diamond Comics, Stops Supplying
- Fantagraphics Says That Diamond Is Holding Their Comics Hostage
- Kathy Govier, Chief Marketing & Communications Officer, Out At Diamond
- Confirmed, AENT Tried To Buy Diamond In October To Avoid Bankruptcy
- Dynamite Pulls Their Comics Out From Diamond Comic Distributors
- Diamond Moves To Liquidate All Consigned Comics "Held Hostage"
- FairSquare Graphics Calls Diamond "Thieves & Bandits", Brings Receipts
- Ultimate Comics Chain Refuses To Buy Diamond Liquidation Stock
- This One Trick Means Bandai Get Their Pokémon Cards Back From Diamond?
- Dren Productions Want To Know If Diamond Shipped Their Recent Comics?
- Publishers Have 3 Weeks To Object To Diamond Comics' Liquidation Plans
- Emily Botica, Vice President At Diamond Comics, Is Leaving Next Week
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