Alliance Entertainment Wins Bid to Acquire Diamond Comic Distributors, Stock Gains

Shares of Alliance Entertainment Holding Corporation (AENT) are trading higher on Tuesday.

The distributor — known for its focus on music, movies, video games, electronics, and collectibles — placed a successful bid to purchase the assets of bankrupt Diamond Comic Distributors, Inc.

Pending approval from the Bankruptcy Court, this acquisition encompasses Diamond Comic Distributors (U.S.), Alliance Game Distributors, Diamond Select Toys & Collectibles, and Collectible Grading Authority.

The move will broaden Alliance Entertainment's presence in the pop culture and collectibles market, a sector worth more than $50 billion.

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The acquisition would grant Alliance Entertainment entry into a vast market, connecting it with over 5,000 retail locations, including independent comic stores, large retail chains, and online platforms.

The involved businesses are key players in comics, tabletop games, and collectible grading, collaborating with major industry names like Dungeons & Dragons, Pokémon, Marvel, and others.

Diamond Comic Distributors flagship catalog, PREVIEWS, is distributed monthly to 30,000+ readers. The acquisition is expected to enhance Alliance's footprint in the growing tabletop games sector. It has more than 15,000 SKUs distributed to over 3,000 independent retailers across North America.

Furthermore, Collectible Grading Authority offers essential authentication and grading services to Alliance Entertainment, having certified more than 500,000 collectibles globally.

This acquisition will allow Alliance to utilize Diamond's intellectual property across its mass retail and online platforms. It will also introduce its vast collection of physical media to thousands of niche retailers.

The deal is anticipated to be finalized in April 2025, pending final approval from the bankruptcy court. Alliance held $2.5 million in cash and equivalents as of Dec. 31, 2024.

Price Action: AENT shares traded higher by 4.09% at $4.07 at last check Tuesday.

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