Posted in: Comics, Current News | Tagged: diamond, Penguin Random House
Who Will Buy Diamond Comic Distributors? The Runners And Riders
Who will buy Diamond Comic Distributors? Bleeding Cool looks at the runners and riders in this race and notes down the odds...
Article Summary
- Explore potential buyers for Diamond Comic Distributors facing Chapter 11 bankruptcy.
- Universal Distribution is a top contender with existing comic experience.
- Major players like Penguin Random House and Lunar Distribution weigh their options.
- Diversified options include Amazon, Elon Musk, and intriguing underdogs.
Talking to industry insiders over the past few weeks, Diamond Comic Distributors declaring Chapter 11 bankruptcy after the last few years has not entirely surprised people, but it's squeaky bum time for everyone working there and the vendors and retailers being serviced by them. There is, however, an expectation from many that Diamond will find a suitable buyer and come through this, albeit in a smaller form. It might be attractive to a buyer looking to compete in the comic market. To expand their current operation. To solidify a stable distribution arm for their own product by owning it. Or to gain new access to a new customer base. However, it is also worth noting that Diamond Comic Distributors has provided numerous services to the industry that would be difficult to replicate if they don't make it through this. Even if they do, there's no guarantee that either the bankruptcy court or a new owner would support them (a) funding Free Comic Book Day, (b) carrying small publishers, (c) doing business with small retailers, (d) funding the comic shop locator service, Free Comic Book Day. and dozens of other things that they do. But who might be in the running? Here are a few suggestions and a look at the runners and riders being discussed right now.
1. Universal Distribution, 5/2 Favourite
Canadian distributor, already having placed stalking horse bids for Diamond UK and Alliance Games Distribution, the two still profitable arms of Steve Geppi's Geppi Family Enterprises collection of companies. They have been distributing comics in Canada for years, they may be best placed to buy Diamond and run it as close to as it runs now. Though the incoming taxes/tariffs may complicate things further.
2. Lunar Distribution/DCBS, 3/2
Once, as DCBS, Lunar was Diamond Comic Distributors' biggest customer. Then, as the exclusive Image and DC distributor, they became Diamond's biggest customer. And they are owed a lot of money. Lunar has been unable or unwilling to take on other publishers of late, as evidenced by Antarctic Press. But if they were able to get the finances and buy Diamond's assets, they would probably be better placed to take advantage of it than anyone else. Diamond also owes them half a million.
3. Penguin Random House, 2/1
Diamond owes them more than anyone else, nine million dollars, even if they are trying to get the publishers of the comics in question to pony up. They have also had some struggles with the specialisation for comic book distribution and may value the expertise. And honestly? Buying Diamond would just be a rounding error for the biggest publisher on the planet.
4. UCS Distribution/Midtown Comics, 3/1
The other DC Comics distributor, formed from Midtown Comics but who stepped away, leaving Lunar with the DC monopoly, is coming back. They already deal with mailorder distribution for Marvel and DC Comics subscription copies and have a large operation in New York.
5. Simon & Schuster, 5/1
Simon & Schuster is also owed a lot of money and is on the board of Unsecured Creditors. But I'm listing them here to represent other book distributors like Hachette and Turnaround, who deal with Diamond on and off, and might also value a way to reach the direct market of comic book stores… directly,
6. Steve Geppi and family, 6/1
Diamond may be bankrupt, but Steve Geppi, who has interests in many companies, is not. It is always possible that he or one of the many members of the Geppi family who would have been involved in his businesses for so long might reacquire Diamond at pennies on the dollar as far as its debt is concerned. Whether people would accept that reality is entirely different, though.
7. Transcontinental Inc, 10/1
The Canadian printer owed much by Diamond for the printing of the Previews catalogue, but it has already stepped up when it comes to covering potential tariff rises on the Canadian border for shipping comic books to the USA. How about adding a major distributor hub in the USA for all of the printed materials they produce?
8. Amazon, 15/1
I mean, they can always use another warehouse, right? And they could integrate Diamond's systems into their own. Or, like Comixology, pretend that's what they are doing and then just absorb it all into whatever they were doing anyway.
9. Whatnot, 20/1
Any gaming/pop culture retailer, on or offline, like Games Workshop, Gamestop, Funko, Hot Topic, Nintendo Store, or anyone who wants to firm up a pop culture retail market by owning the means of distribution.
10. Marvel, 20/1
They've done it before, do they fancy another shot at Heroes World? Or how about fellow comic book publisher DC Comics, they once had the option to buy Diamond. Or how about Mad Cave, they've bought everything else.
11. Elon Musk, 30/1
Or any geek with far too much money and little enough sense. This is like buying a football team, only slightly more geeky. It gives you an instant seat at the table and maybe a place to start buying distribution rights for Marvel and DC back. But if you were in that position… wouldn't you just buy Marvel or DC instead?
12. Forbidden Planet, 40/1
Once upon a time, Titan Books/Forbidden Planet sold their distribution company, Titan Distributors, to Steve Geppi, who renamed it Diamond UK. I understand that there was some interest in Titan reacquiring Diamond UK or even Diamond as a whole, but it didn't last for long.
13. China, 100/1
Well, they are buying everything else. They are the Mad Cave Studios of countries. And it may help with their own tariff issues… Follow the latest news on the Diamond Comic Distributors Chapter 11 bankruptcy here,
