Diamond Distributors Files for Bankruptcy

[Jeff of Earth-J]

Diamond Comics Distributors filed for Chapter 11 bankruptcy protection today. They also announced that they were selling off pieces of their large company - Alliance Games and Diamond UK were two mentioned today with others likely to happen soon.

What does this mean for the comic book business? Hard to tell for sure. Diamond has been losing pieces of the distribution business for the last five years and right now they're a comparatively minor player in the game. However, when it comes to small press comics Diamond is one of the few viable nationwide distribution options.

Remember that a Chapter 11 filing indicates an intent for the business to continue after a reorganization. 

[Mark Sullivan (Vertiginous Mod)]

I always thought that was an odd idea, anyway. Why set up your own publisher-specific platform? I visited the site and found that I did have a small collection, nothing I care about. Which is a good thing, because there is no way to download anything if you are using the Web platform instead of an Apple product.

[Captain Comics]

I got an email from TwoMorrows with the same information, Richard. I've thought about buying some stuff.

Here's a Bleeding Cool article about it:

TwoMorrows Publishing Appeal To Readers After Diamond Doesn't Pay

[Captain Comics]

At last, some good news: 

Transcontinental Steps Up To Offer Comics Industry 90 Days Tariff-Free

Transcontinental is a huge Canadian publisher, one which publishes a lot of American comics. Evidently, they're giving some people who would otherwise go out of business immediately a breathing spell. And hoping, I guess, that the tariff thing will resole itself in three months.

Meanwhile, it's even more generous than it looks, because Transcontinental is owed a lot of money from Diamond for printing the Preview magazine.

[Captain Comics]

Diamond UK Will Not Distribute Mad Cave Studios Or TwoMorrows To UK

U.S. comics in UK is a bit of a mess. Right now the only distributor of U.S. comics in UK is the appropriately named Diamond UK, but a number of publishers have gone exclusive to Lunar or Penguin Random House, meaning Diamond UK cannot distribute them. It seems very likely that Diamond UK will be bought soon -- it's profitable, and offers have been made -- but until then it's catch-as-catch-can, with the larger stores dealing directly with Lunar or PRH for nice discounts on Image, Mad Cave, DC, et al, while smaller shops flail. 

[Captain Comics]

Another fiscal report, another loss for IDW. 

IDW REPORTS FISCAL Q4 AND YEAR LOSSES

[The Baron]

Diamond Assets to Be Auctioned Off

I wonder if I could arrange to be in New York that day?  

[Luis Olavo de Moura Dantas]

Diamond sure has (had) many subsidiaries.

It will be interesting to see who shows interest in buying the FCBD domain.

[Captain Comics]

Here's an article on that:

Thirty Parties Currently Looking at Buying Diamond Comic Distributors

As has often been discussed, Universal Distribution of Canada will likely buy Diamond UK, and has a stalking horse bid on Alliance Games. 

[Captain Comics]

More news from the front:

• UDON is going with Lunar, but Diamond will still sub-distribute. Weirdly, UDON's FCBD books will be exclusive with Lunar.
• Antarctic Press couldn't get Lunar interested, so they are going with Massive, which is going to sub-distribute small publishers with its Lunar account. No word on whether Diamond will continue to have that account in any form.
• Blood Moon is going out of business

[Captain Comics]

Here are Diamond Comic Distributors' assets, per Bleeding Cool:

1. Diamond Comic Distributors- Division of Debtor Diamond Comic Distributors, Inc., that distributes comic books, graphic novels, toys, games, and other pop culture-related merchandise.
2. Diamond Book Distributors – Division of Debtor Diamond Comic Distributors, Inc., that distributes English-language graphic novels, manga, games, and merchandise.
3. Alliance Game Distributors – Division of Debtor Diamond Comic Distributors, Inc., that distributes board games, card games, role-playing games, miniatures, and other gaming products.
4. Collectible Grading Authority (CGA) – Division of Debtor Diamond Comic Distributors, Inc., that provides professional evaluation, authentication and grading services of vintage and modern toys, video games and other related collectible assets.
5. FandomWorld Division of Debtor Diamond Comic Distributors, Inc., that operates a direct-to-consumer e-commerce platform offering a range of collectible merchandise for sale.
6. FreeComicBookDay.com Division of Debtor Diamond Comic Distributors, Inc., that operates an annual promotional event where participating comic bookstores give away free comic books to drive product awareness and attract new customers.
7. Diamond Select Toys & Collectibles, LLC Manufactures collectible toys and animated style statues based on licensed intellectual property from companies like Disney, Marvel, and Warner Bros.
8. Gentle Giant Ltd. Division of Debtor Diamond Select Toys & Collectibles, LLC, that manufactures collectible toys and statues based on licensed intellectual property from, among others, Disney and Marvel.
9. Ironguard Supplies Division of Debtor Diamond Select Toys & Collectibles, LLC, that manufactures card supplies, comic supplies, and displays, including card binders, card sleeves, magna-armor, backer boards, and comic bags.
10. Comic Exporter, Inc. Holding company that owns 50% of non-debtor Diamond Comic Distributors UK, a distributor of comic books, collectibles, and related merchandise in the United Kingdom.
11. Comic Holdings, Inc. Holding company that owns 50% of non-debtor Diamond Comic Distributors UK, a distributor of comic books, collectibles, and related merchandise in the United Kingdom.
12. Diamond Comic Distributors UK – Distributes comic books, collectibles, and related merchandise in the United Kingdom.

An auction of these assets is scheduled for March, but I imagine some will already be sold by then.