Image Comics Files an Objection to Diamond’s Acquisition

Yesterday, news broke that Diamond Comic Distributors had been purchased by Alliance Entertainment as part of its Chapter 11 bankruptcy. We said in that article there was a long way to go before the matter was settled and there’s already been multiple objections. First there was issues with folks who Diamond leases space from, then Pokémon Company International submitted a response and objection to the deal. Now, Image Comics has filed an objection for multiple reasons.

In the filing, Image is using an agreement the company and Diamond Comic Distributors entered into in April 2024. In that agreement, Diamond was the “exclusive” agent to sell product consigned as a distributor for “channels outside the United States, Canada and Mexico.”

Image is claiming the amount listed that is owed is incorrect and that it as at least $69,224.63 but is unknown because sales reports have not been sent to Image since November 2024. The second reason is that Image needs to approve their contract being handed over.

Due to all of that, the comic publisher is asking the Court to deny “the Debtors’ assumption and assignment of the Agreement to a Successful Bidder.” If the sale is approved, Image wants the correct amount owed that would be determined by the missing sales reports.

As we said, there’s a long way to go before things are completely settled.