It’s official now: Universal Distribution and Ad Populum, the second-place bidders in the Diamond bankruptcy auction, have completed the purchase of several Diamond assets, including the comics distribution business and Alliance Game Distributors.
Universal will take home Alliance Game Distributors, while Ad Populum gets 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.
“We are thrilled to officially welcome Alliance into the Universal Distribution family,” said Angelo Exarhakos, president and CEO of Universal Distribution. “This acquisition marks a transformative step forward in our mission to deliver exceptional service and value to retailers and publishers across North America. By combining Alliance’s respected legacy and expansive network with Universal’s operational strengths and innovation-driven approach, we are poised to elevate the distribution experience across the industry. We look forward to building on the trusted relationships Alliance has cultivated and continuing to support the growth and vibrancy of the hobby gaming community.”
Not long after the press release announcing the purchase was complete came word that layoffs had begun within Diamond. The Beat describes them as “massive,” with Chris Powell, Diamond’s Chief Sales & Service Officer, noting he was let go.
“The last 13 years have rarely been easy, but I’m just as grateful for my time here as I was for the prior 23 years at Lone Star Comics. The last 5 have been particularly challenging, with COVID and other factors, but the great people I worked with (my team, other internal teams, and SO many great suppliers and customers) got us through it all. Well, I guess not ‘all.’ Ha!” Powell said on Facebook. “I don’t know what’s next, whether it will be in the industry where I have spent my adult life or elsewhere. I know that whatever it is, it will have a lot to live up to.”
Rich Johnson, VP of Sales at Diamond and another veteran comics professional who previously worked at DC, Lion Forge and Yen Press, said on LinkedIn that he and his sales staff was also laid off from Diamond this week.
“The sale of Diamond Comics was finalized today and few minutes after the press release went out my sales team and I (Stuart Carter and Terry Helman) were let go,” he posted. “Several others at Diamond were let go and my heart goes out to everyone affected.”
My sympathies go out to everyone who has lost their jobs as a result of this, and I wish them the best.