Yesterday, a press release was sent out that broke the news that Diamond Comic Distributors and its related companies had been sold to Sparkle Pop (a related company to Ad Populum) and Universal Distribution. Today, the official orders approving that purchase of the assets have been released.
The orders lay out the bidding process calling notices, the bidding, and everything involved fair and that the sale of Diamond needs to me approved and consummated promptly to maximize the value of the debtor’s estates. Stating “time is of the essence.” Nothing after the initial read jumps out as particularly special, odd, or a surprise.
What does stand out is a firm closing date which doesn’t seem to be spelled out in any document.
Universal Distribution is the approved bidder for Alliance’s assets. Alliance is a distribution company focused on the tabletop gaming industry.
In that order, not only is the sale approved and motion granted, but all objections or reservation of rights filed or asserted are overruled with prejudice, other than objections on account of a Cure Dispute that’s currently a part of the cure resolution process.
Other things of note, the cure amount payable to The Pokémon Company International is $324,602. The other amount mentioned is that Universal’s acquisition of Alliance’s assets is roughly $42 million with some adjustments based on final bookkeeping, and inventory.
Check out the order below:
The Sparkle Pop order is similar. It goes over the process calling it fair and then approves the bid/sale of Diamond Comic Distributors, Diamond Book Distributors, Diamond Select Toys & Collectibles, Collectible Grading Authority, and other related assets to Sparkle Pop.
Not much comes up for Sparkle Pop LLC which was created on April 4, 2025 in Delaware. On April 5, Diamond announced that it was going with its back-up bid which included Universal and Ad Populum in a joint bid. The purchaser on the newest court document is Joel Weinshanker for both Sparkle Pop and Ad Populum. Weinshanker is the founder/owner of NECA as well as majority shareholder of Ad Populum. Ad Populum has a portfolio that includes the National Entertainment Collectibles Association (NECA), Wizkids, Kidrobot, Rubies Costumes, Graceland and more. Ad Populum also assumes all of Sparkle Pop’s obligations and will before them if Sparkle Pop can’t.
When it comes to issues with the debt owed to The Pokémon Company International, Inc., they have the chance to file an opposition and have a hearing. The purchase amount is $7,459,050 minus the amount owed to NECA, LLC, Wizkids/NECA, LLC and also adjusted a bit based on final accounting and inventory.
You can read the full order below:
The third order released has to do with Diamond and JPMorgan Chase Bank’s DIP Agreement. DIP is debtors in possession and it has to do with loans that Diamond took from JPMorgan and clearing up next steps as far as that.
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Source: Graphic Policy
