Alliance Entertainment Walks Away From Diamond Deal

Hold on to your longboxes, comic fans! In a stunning turn of events, Alliance Entertainment has pulled the plug on its agreement to acquire Diamond Comic Distributors. According to a recent SEC filing, Alliance sent a termination notice to Diamond on April 24, 2025, effectively ending the previously announced asset purchase agreement. The termination was immediate, leaving the future of comic distribution in North America hanging in the balance.

This latest twist adds another layer of intrigue to the already dramatic saga surrounding Diamond’s bankruptcy auction. Just weeks ago, Alliance Entertainment was declared the winner, only to have Diamond seemingly backtrack and favor a joint bid from Universal Distribution, LLC, and Ad Populum, LLC (the parent company of NECA and WizKids). A lawsuit from Alliance ensued, and ultimately, the bankruptcy court sided with Alliance, approving the sale.

Now, with Alliance suddenly out of the picture, the spotlight shifts back to the runner-up bidder: the joint venture between Canadian distributor Universal Distribution and Ad Populum. Could they now be poised to take the reins of Diamond?

Interestingly, Alliance Entertainment’s SEC filing offered no explanation for their abrupt change of heart. This leaves many speculating about the potential reasons behind this unexpected decision.

One looming question mark is the potential impact of the recent trade war initiated by the U.S. government on April 2nd. This trade dispute has already sent ripples through the game and merchandise industries, and it’s natural to wonder if it played any role in Alliance’s decision to withdraw its bid.

The comic book industry now faces a period of uncertainty. What does this mean for publishers, retailers, and ultimately, the readers? Will Universal and Ad Populum step in? What will be the long-term implications for the distribution landscape?

Stay tuned as this story continues to develop. We’ll be here to bring you the latest updates on this unfolding drama in the world of comic distribution.