The drama around the Diamond bankruptcy sale continues. Superman lawsuit dismissed. The Shredder is getting his own TMNT spinoff.
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Episode Transcript:
More Diamond drama!
Superman lawsuit dismissed.
Shredder spinoff announced.
This is Comic Book Club News for April 30, 2025.
More Diamond Drama:
The drama around the Diamond bankruptcy sale is coming fast and furious. Previously, we reported on how Alliance Entertainment filed a termination of their agreement with Diamond, deciding not to move forward with the deal to purchase the company. But here’s what’s happened since.
First, as we also previously reported, Diamond has revealed they are planning on being bought by “alternative, exceptionally well-known purchasers,” who are likely Universal Distribution, Ad Populum, and possibly other companies to help defray the cost.
But there are two more twists that may cause major issues here. First, a motion has been filed to change the Diamond bankruptcy from Chapter 11 to Chapter 7, because Diamond has failed to submit Monthly Operating Reports to the court for the past three months. The difference between Chapter 7 and Chapter 11 is that in the latter, Diamond is allowed to continue to operate. In Chapter 7, they must shut down immediately and liquidate their assets.
And second, in a wild turn of events, Alliance is suing Diamond… Again. And this time, Alliance is alleging that Diamond deliberately withheld the information that they had terminated their agreement with Wizards of the Coast from Alliance as of December 2024. Included in the suit are the words “fraud” and “scheme” and Alliance is demanding $8.5 million from Diamond in damages.
Add in the money Diamond already owes its creditors, plus the potential move from Chapter 11 to Chapter 7, and it’s clear those “alternative, exceptionally well-known purchasers” may have to move quickly and have a lot of cash on hand to make sure any of Diamond is still around to buy. More on this as it develops.
Superman Lawsuit Dismissed:
More on the legal beat, a lawsuit over the ownership of Superman has been dismissed by the court.
Per Reuters, the suit was from the Joe Shuster estate claiming that the rights for the Man of Steel had reverted to Shuster in 2017. Specifically, Warner Bros. Discovery had failed to pay royalties in any countries that follow the United Kingdom’s copyright reversion law — which includes the U.K., Canada, India, Ireland, and Israel.
However, the case was brought before a U.S. judge — and dismissed because of that. According to Judge Jesse Furman of New York, the court lacked jurisdiction over the copyright claims. Said Furman, the case was “brought explicitly under the laws of foreign countries, not the laws of the United States.”
Therefore, the rights to Superman remain with Warner Bros. and DC Comics. Whether the Shuster estate can or will retry the case in the U.K. is unknown at this time.
Shredder Spinoff Announced:
The Shredder is getting his own spinoff! The news was revealed by IGN, who also revealed that TMNT: Shredder will be written by Dan Watters, with art by Michele Bandini.
Taking place in the continuity of the new TMNT series, Shredder is on a “quest for revenge” after returning to New York after a “maddening ordeal beyond imagining.” There he comes to blows with a former protege who has “formed their own rival clan with sinister plans for the city.”
Said Watters, “The bad guys always have the best stories, and Shredder is no exception. This story is Shredder on a quest of revenge – rejecting the gods and allegiances he’s made over his long and storied history, reminding New York exactly why it feared him so much – and why it should do so again. This is the kind of character I love to write. Driven, ruthless, and crawling his way back to the top with a new purpose. This is going to be a hell of a ride.”
TMNT: Shredder #1 hits stores on August 13, 2025.
For Comic Book Club News, I’m Alex Zalben. And this just in, The Shredder has bought Diamond Comics Distributors. Uh-oh!
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