Webtoon Entertainment (WBTN US) has secured a big contract with The Walt Disney Co (DIS US) including Avengers and Spider Man to become available in webtoon format.
Disney plans to take a 2% stake in Webtoon Entertainment. Disney and Webtoon announced that they have signed a non-binding term sheet for development of the new platform, featuring current comic book runs and decades of older comics from across Disney’s portfolio. This equity stake investment should have a big positive impact on Webtoon whose shares are up more than 65% in afterhours trading.