Diamond Comic Distributors acquires Capital City Distribution; Comic distribution industry stabilized by purchase.TIMONIUM, Md.--(BUSINESS WIRE)--July 26, 1996--Diamond Comic Distributors, Inc. President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Steve Geppi announced today that he has acquired selected assets of the Madison, Wis adv. 1. Certainly; really; indeed. v. t. 1. To think; to suppose; to imagine; - used chiefly in the first person sing. present tense, I wis. See the Note under Ywis. .-based Capital City Distribution. With his Timonium, Md. headquartered company already a recognized leader in the comic and entertainment related distribution industry, Geppi stated that this acquisition was "a reinvestment Reinvestment Using dividends, interest and capital gains earned in an investment or mutual fund to purchase additional shares or units, rather than receiving the distributions in cash. 1. In terms of stocks, it is the reinvestment of dividends to purchase additional shares. in the long term health of the comic industry." When the comic distribution business was dramatically altered in early 1995 by the announcement that Marvel The original code name for Microsoft Network. Comics would begin direct distribution of its comics, Geppi quickly formed a strategic alliance with Marvel's chief competitor, DC Comics and other top comic publishers. Consequently, Diamond was able to maintain a healthy market position in a rapidly evolving business. Capital City likewise formed strategic alliances with a number of suppliers, but was nonetheless seriously stressed by the paradigm shift A dramatic change in methodology or practice. It often refers to a major change in thinking and planning, which ultimately changes the way projects are implemented. For example, accessing applications and data from the Web instead of from local servers is a paradigm shift. See paradigm. in distribution. The purchase price of Capital City's selected assets was not disclosed by mutual agreement of both parties, but it is expected that this acquisition will bring an estimated $50 million in sales revenue to Diamond. Geppi disclosed that Diamond is finalizing plans to enhance services to all of its customers. He also indicated that comic book comic book Bound collection of comic strips, usually in chronological sequence, typically telling a single story or a series of different stories. The first true comic books were marketed in 1933 as giveaway advertising premiums. specialty shops will benefit from cost savings as a result of consolidated orders and shipments. "Capital City co-founders Milton Griepp and John Davis have taken actions which should satisfy their obligations and provide uninterrupted service to their suppliers and customers, while also garnering a fair rate of return on a company they worked so hard to build over the years. They are to be commended. What's more, I want to thank all of the Diamond employees who have worked so hard over the years to put us in a position or make this acquisition, and to give special recognition to Executive Vice President and COO (Cell Of Origin) See mobile positioning. Chuck Parker and Vice President of Finance Larry Swanson for all the effort they put into helping to negotiate this deal," Geppi concluded. CONTACT: Diamond Comic Distributors, Inc. Charles Degliomini, 516/248-6300 |
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