Webtoon Entertainment Inc. (NASDAQ: WBTN) hits a new all-time high as Disney plans to acquire a 2% stake in the company. Shares soar for the third straight day, reaching $21.32 before closing at $20.80, up 39.04% on Tuesday.

WEBTOON Entertainment Inc. (NASDAQ: WBTN) announces a non-binding term sheet with Disney for the acquisition of a 2% interest. The partnership aims to develop a digital comics platform featuring content from Marvel, Star Wars, Disney, Pixar, and 20th Century Studios, among others.

Over 35,000 comics from Marvel, Star Wars, Disney, Pixar, and 20th Century Studios will be accessible through a single digital comics service with a single subscription. The extended collaboration between WEBTOON Entertainment Inc. and Disney will include reformatted classics and original series in a vertical scroll format.

Read more at Yahoo Finance: Webtoon (WBTN) Hits New All-Time High as Disney to Acquire 2% Interest