Diamond Staff Laid Off in Post-Acquisition Restructuring

With its acquisition by Ad Populum and Universal Distribution officially inked earlier this month, restructuring has begun at Diamond Comic Distributors, resulting in a number of high-level layoffs across the company’s comics and graphic novel divisions. Ad Populum acquired the assets of Diamond’s comics, graphic novels, and toys and collectibles businesses, while Universal acquired Diamond’s games business. 

Among those laid off, as reported by ICv2, are Rich Johnson, VP of sales and business development for Diamond Book Distributors, as well as his sales team, comprising Stuart Carter and Terry Helman. In a post on LinkedIn, Johnson said he learned he was being laid off “a few minutes after the press release went out” announcing that the sale of Diamond had been finalized. Johnson joined the company in 2022 and previously held executive roles at DC Comics, Yen Press, and Lion Forge. 

Chris Powell, chief sales and service officer for Diamond's comics and graphic novel distribution businesses, among other divisions, was also laid off after 13 years at the company. In addition, the company’s toys and collectibles division has reportedly been shut down following its acquisition by Ad Populum.