Alliance Entertainment has ended its agreement to purchase Diamond Comic Distributors, the company said in its SEC filing. “On April 24, 2025, the company sent a notice of termination to Diamond Comic Distributors, Inc. (“Diamond”) to terminate the previously executed asset purchase agreement and to acquire all assets in Diamond through the court's supervisory bankruptcy process,” the filing states. “The termination took effect immediately.”
This is the latest and incredible development of dramas surrounding auctions of Diamond assets, such as Alliance Game Distributors and Diamond Select Toys. Alliance Entertainment was declared the winner on the bankruptcy auction day. Diamond later changed his mind and declared a joint bid from the winners from Universal Distribution, LLC, Neca and Wizkids Parent Ad Populum and LLC. Alliance Entertainment sued. And then, a bankruptcy judge approved the sale of the company to the Alliance (see “Bankment Court Approves the Sale of Diamonds”).
Alliance Entertainment did not provide any basis for ending the SEC filing bid.
The auction's backup bidders were joint bids from Canadian Distributor Universal Distribution, LLC, and Neca and Wizkids Parent Ad Populum, LLC (see Backup Bidders). If Alliance Entertainment is off the photo, the backup bid will likely be the winner of the auction.
It is unclear what role the trade war, launched by the US government on April 2nd, plays. This has had a major impact on some of the games and commerce, and it has an impact on the situation, if any.
