Shares of Webtoon Entertainment (NASDAQ:WBTN) surged by up to 64% in early trading on Tuesday after Walt Disney (NYSE:DIS) revealed plans to acquire a 2% ownership stake in the digital comics company.
Under the new collaboration, Disney will work with Webtoon to feature its popular comic titles on a revamped digital platform and companion app.
This move represents Disney’s first strategic step into the online comics arena, leveraging Webtoon’s established audience and platform to expand its presence in the digital storytelling space.
Webtoon Entertainment stock price
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