Disney and WEBTOON to create new digital comics platform; Disney to acquire 2% stake in WEBTOON

WEBTOON Entertainment Inc.

Disney and WEBTOON sign non-binding term sheet for all-new digital comics platform featuring over 35,000 comics from Marvel, Star Wars, Disney, Pixar, 20th Century Studios.
Disney to acquire a 2% equity interest in WEBTOON Entertainment; definitive agreements and customary conditions required.
Disney+ subscribers will receive curated access to select comic titles at no additional charge as part of subscription.
Platform will combine vertical and traditional formats, built and operated by WEBTOON; expands prior collaboration of nearly 100 titles reformatted for WEBTOON.
Proposed transactions subject to definitive agreements and closing conditions; no financial terms disclosed for the investment.

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