Alliance submits a complaint over Diamond’s last minute switch to Universal in its Acquisition
The maneuvers continue and Alliance Entertainment has submitted a complaint over Diamond Comic Distributors‘ decision on Saturday to reject Alliance Entertainment’s bid as originally announced and instead go with a joint bid by Universal Distribution and Ad Populum.
In the complaint, Alliance Entertainment claims they submitted the “highest and best” bid. It has been stated elsewhere that Universal and Ad Populum’s bid was higher.
It goes on to further state that Diamond has committed an auction that was unfair. In other objections to the initial decision in choosing Alliance, creditor parties said the auction was unfair in choosing Alliance and that there was higher bidders.
Alliance Entertainment still wants to close the sale transaction and court’s approval.
It would seem that Monday’s hearing is going to be an interesting one!
Discover more from Graphic Policy
Subscribe to get the latest posts sent to your email.

