For over 40 years, if you wanted the latest issue of Batman, Spider-Man, or The Walking Dead, chances are your comic shop got it through one name: Diamond Comic Distributors. They were the quiet middleman between your local comic book store and the big publishers—Marvel, DC, Image, Dark Horse, you name it. But now the Goliath has fallen.
Diamond Comic Distributors has been sold to Universal Distribution LLC and Ad Populum. And while a sale might sound like a fresh start, this one’s coming with heartbreaking news: mass layoffs, restructuring, and the shutdown of Diamond Select Toys—the branch responsible for some of the best Marvel action figures and statues on shelves today.
If you visit Diamond’s website, there’s now a dedicated Restructure tab. That’s not something you expect from a company that’s dominated the comic book distribution world since 1982. According to their official statement, they’re filing for Chapter 11 bankruptcy, citing “the unexpected loss of certain exclusive publisher relationships,” along with inflation, tighter margins on printed comics, and the general post-pandemic downturn in consumer spending.
In other words, people just aren’t buying comics like they used to. Now, be honest—when was the last time you actually bought a new Batman, Superman or Spider-Man comic book? And no, purchasing tickets to the latest MCU or DCU blockbuster doesn’t count.
This collapse didn’t come out of nowhere, of course. The writing’s been on the wall for Diamond Comic Distributors for a while now. Back in 2020, DC Comics left Diamond and struck a deal with Lunar Distribution. Marvel followed in 2021, teaming up with Penguin Random House. And just like that, Diamond’s decades-long monopoly—one it held since the ’90s—was cracked.
They also published the Previews catalog, a monthly must-read for retailers and die-hard fans who wanted to plan their comic pull lists.
Reports from BleedingCool and Marvelous News suggest the beloved Diamond Select Toys division – that’s the team behind those epic Marvel Select figures you’ve probably seen at Comic-Con or proudly displayed on a shelf next to your Funko Pops – was shuttered, too. According to the reports, Mark Herr, a former Diamond exec, reportedly commented on social media, “I do know the subsidiary Diamond Select Toys was shut down yesterday and all staff let go.” He added that some of those employees were veterans with over 20 years at the company. “I have heard that Steve Leaf was among the people let go in Purchasing…that’s especially hard for me.”
Herr’s original post appears to have been deleted, but the sentiment reflects a broader frustration among industry vets and fans alike. Over on marvelousnews.com, a commenter named TheArrow offered a sobering take: “The very unfortunate thing about those creative industries is that when those talented people get laid off, most of them will leave… A.I. encroachment is fuelling that… AT LEAST 50% of those people are now GONE from the biz entirely, and won’t be coming back.”
Diamond Comic Distributors’ fall and Universal and Ad Populum’s purchase of the company is more than just a business move. It’s a shift in comic book culture—one that leaves shops scrambling for alternatives, fans wondering what’s next, and longtime employees without jobs. Whether this restructuring leads to a new chapter for the company remains to be seen.
Diamond’s Chief Restructuring Officer, Robert Gorin, seems positive, stating the company is “in good hands” under Universal and Ad Populum. “We are pleased that this transaction has been completed.”
Angelo Exarhakos, President and CEO of Universal, agreed. “We are thrilled to officially welcome Alliance into the Universal Distribution family. This acquisition marks a transformative step forward in our mission to deliver exceptional service and value to retailers and publishers across North America.”
“We’re incredibly excited to build on Diamond’s remarkable legacy by bringing Ad Populum’s best-in-class sales, marketing, and distribution to the next chapter,” Joel Weinshanker, Managing Director of Ad Populum, expressed.
The comic book industry just lost one of its biggest players. Or maybe, under new leadership, Diamond Comic Distributors is about to make one of the biggest comebacks in comic book history.
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