The Week in Diamond, including moves from Udon Entertainment, Blood Moon Comics and some interesting court filings.
In case you wanted to play catch up, I wrote a summation of the Story Thus Far for Publishers Weekly. One thing that is dawning on everyone given this week’s court filings: Diamond in its current form is not coming out of bankruptcy. In a filing on February 11th, conditions for an auction of Diamond’s assets were laid out, including an auction scheduled for March 24 and with a closing by April 10. As a reminder, money owed to creditors will be paid based on the sale of assets, which will be most likely the proverbial pennies on the dollar.
The list of businesses up for auction was also filed:
| # | Business Name | Description |
| 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. |
It is a stark and sobering experience to see the assets of once almighty Diamond laid out like that. A few things cross my mind as I look at it: no mention of Gemstone Publishing, which publishes the Overstreet Comic Book Price Guide and various other Overstreet guides. Presumably Gemstone is owned by one of Steve Geppi’s other holding companies, and not included in the bankruptcy given it’s absence in filings.
FandomWorld was launched last summer and got relatively little attention: an e-commerce site that sold collectibles, SDCC exclusives and the like. Ironically (if that is the word) it was comics shop retailers’ fears that Diamond would someday go direct to consumers that led to many of the quirkier aspects of the direct market as a whole. By the time Diamond actually got around to doing it….no one really cared.
The mention of Gentle Giant recalls that Diamond bought some of the assets of Gentle Giant Studios, a pioneer in 3D scanning and modeling back in 2019. Diamond Select Toys basically started selling toys under the sibling Gentle Giant Ltd. brand, while Gentle Giant Studios continued separately as a creative studio.
Seeing Free Comic Book Day on the list just reminds us what an institution Diamond has been. While many have argued whether we still need Free Comic Book Day, I’d venture a guess that most people still see it as something valuable that should continue.
§ We have the first comic book publishing company to officially shut down: Blood Moon Comics. I confess, I had never heard of them before, but they were run by Lawrence Knorr and Keith Rommel, and put out horror, SF and fantasy comics such as Hexpaw and Gunbreed. In a letter to creators they announced they were shutting down publishing, social media and e-commerce. Their remaining inventory has been transferred to Sunbury Press, an indie book publisher, who will sell or dispose of the inventory and handle the accounting of invoices and royalties to creators. The note continued:
I want to personally thank you for all the hard work and risk involved in publishing through our start-up. We were beginning our fourth year in business when the news hit about Diamond. Unfortunately, we are left with tens of thousands of dollars in unpaid invoices from them. We will be pursuing what we can from their bankruptcy actions. Even if another entity purchases Diamond, there is no guarantee any of the amounts due will be settled. This is a real shame! Your creative work was world-class, and the company was beginning to develop a following. Now, we will put things on hold pending the resolution of Diamond’s bankruptcy or potential purchase.
It’s fair to say that Blood Moon was fairly obscure, but I doubt it will be the only publisher to shut down.
Udon Entertainment, publisher of Street Fight, Rose of Versailles and many other titles, has joined the caravan of publishers moving to Lunar, but with some carve outs. Udon will be non-exclusive with Lunar beginning with May 2025 shipping comic book products. Orders placed with Diamond will be filled with the exception of Udon’s two Free Comic Book Day titles, Street Fighter vs. Rival Schools #1 and Mega Man #0, which will both be handled by Lunar.
“It’s a rocky time for the entire comic industry right now,” said UDON Chief of Operations Erik Ko. “Diamond has been a very supportive partner of UDON since we started publishing over 20 years ago, and we respect that support a great deal. We are very hopeful that Diamond can come back strong from Chapter 11 restructuring, but with the uncertainty ahead it makes the most sense for us and for the retailers who carry our books to open up our distribution options and make our materials available through additional partners like Lunar Distribution.”
UDON’s first books to be distributed through Lunar will be the two Free Comic Book Day issues, again, handled exclusively through Lunar, in time for Free Comic Book Day, May 3, 2025. Regular comics offerings will be available from both Lunar and Diamond starting with May 2025’s Mega Man Timelines #1. All orders (except for FCBD issues) placed for UDON comic books to date through Diamond will be honored and filled, including three exciting new comic book issues detailed below.
1224UE847 FCBD 2025 –
MEGAMAN #0 CVR A JEFFERY CHAMBA CRUZ 2025 FCBD SPECIAL EDITION (NET)
Written by Tavis Maiden, Art by Kenny Ruiz, Jeffrey Chamba Cruz, and more!
Video game legend MEGA MAN returns with all-new comics from UDON! In this special one-shot adventure, the original Blue Bomber faces off against villainous robot masters like Cold Man, Wind Man, Skull Man, and more! This issue sets the stage for the incredible Mega Man Timelines mini-series starting in May, 2025!
32 pages, Full Color
1224UE848 FCBD 2025 –
STREET FIGHTER VS RIVAL SCHOOLS #1 CVR A TOVIO ROGERS 2025 FCBD SPECIAL EDITION (NET)
Written by David Lumsdon, Art by Tovio Rogers
The World Warriors hit the books, as the heroes of Street Fighter collide with the quarrelsome students of Rival Schools! Chun-Li, Dan, and Sakura square off against Batsu, Edge, Kyoko, and more in a schoolyard brawl that may give them all detention! The perfect way to gear up for the long-awaited re-release of Rival Schools 2 in the upcoming Capcom Fighting Collection 2 video game, and UDON’s own Rival Schools: Official Complete Works illustration collection!
32 pages, Full Color
