Alliance Entertainment acquires Diamond Comic Distributors in bankruptcy bid

After a day of no solid news, this morning came word that Diamond Comic Distributors potentially has new owners, Alliance Entertainment. Alliance Entertainment is a distributor and wholesaler focused on music, movies, video games, electronics, arcades, and collectibles. It has acquired “substantially all of the assets of Diamond Comic Distributors, Inc.”

In January 2025, Diamond Comic Distributors declared Chapter 11 bankruptcy creating a shockwave within the comic industry. In the announcement, the distributor listed its liabilities in the $50-$100 million range with assets around the same amount and creditors between 1,000 and 5,000.

Alliance Entertainment’s acquisition still needs to be approved by a Bankruptcy Court. The announcement from Alliance Entertainment teases the purchase is for most, if not all, of the entities up for sale including Diamond Comic Distributors (U.S.), Alliance Game Distributors, and Collectible Grading Authority. We’re assuming Diamond Select Toys and other entities not mentioned are included as well until news says otherwise. Alliance Game Distributors was mentioned as being purchased by Universal Distribution, but with this announcement that doesn’t seem to be the case. Alliance Entertainment in their announcement were careful to highlight Diamond US, so it’s likely Universal Distribution will still purchase Diamond UK.

Also mentioned is that Diamond Comic Distributors (U.S.), Alliance Game Distributors, and Collectible Grading Authority support over 5,000 retail storefronts and that Alliance Game Distributors handles over 3,000 hobby retailers. Diamond Comic Distributors (U.S.) is highlighted in that it fulfills comics for 2,500+ comic shops.

The news is good for multiple reasons:

• Alliance Entertainment is a known distribution entity that has been around for 15 years, that seems to actually focus on trends on consumer purchasing
• With their current distribution abilities, comics might be available through more channels and retailers through this acquisition
• Creditors may be paid what they’re owed, or at least more than if Diamond completely folded

While there is still a lot to do before this is settled, and the devil in the details, this is potentially good news all around for the comic industry.

When I say there’s a long way to go, there is a lot more as far as approval, objections, and who gets paid what. Today, for example, there was an objection by Diamond’s landlords for the approving the sale of all of Diamond’s assets fee and clear of liens, claims, interests, and encumbrances, throwing a wrench into current leases.

Source: Graphic Policy