We have the official word that Alliance Entertainment has been approved to purchase Diamond Comic Distributors and Diamond Select Toys. We had an initial hint earlier today but the official court documents have been released.

In a hearing Alliance and Diamond reached an agreement with the “respect to the sale of substantially all of the Debtor’s Assets to Alliance.”

Bandai Namco, The Pokémon Company International, Inc., and counsel to AIREIT Olive Branch DC LLC and Anson Logistics Assets LLC did not object to the order after doing so leading up to the hearing.

This is a breaking story and will be updated as we work through all of the documents below.