Disney takes 2 percent stake in Webtoon Entertainment as two sides strike a deal, creating massive digital comics platform with Disney IPs, original webtoons
Webtoon Entertainment, the Los Angeles–based global arm of Korea’s Naver Webtoon, is teaming up with The Walt Disney Company to develop a new digital comics platform.
The two companies signed a non-binding term sheet Monday to jointly develop the service. A non-binding term sheet refers to a preliminary document that outlines the key terms of a potential partnership or investment but does not constitute a binding commitment.
As part of the collaboration, Disney will take a 2 percent equity stake in Webtoon Entertainment, according to Naver Webtoon.
The newly launched platform will feature roughly 35,000 titles drawn from the vast intellectual property libraries of Marvel, Star Wars, Disney, Pixar and 20th Century Studios. Select original works on Webtoon Entertainment will also be available.
The digital comics will feature a mix of formats: Some titles will be reimagined in webtoon’s signature vertical scroll style, while others will be presented as digitized editions of traditional comic books.
Webtoon Entertainment will spearhead the development and operations of the new platform, with the name to be unveiled at a later date.
Disney+ subscribers will get access to the platform at no additional cost, though it is not yet clear in which countries the new service will be available, according to Naver Webtoon.
Webtoon Entertainment, which went public in June 2024, became the parent company of Korea’s Naver Webtoon after a May 2020 restructuring, with Naver Corp. retaining majority ownership.
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source www.koreaherald.com ’
