Kirkland Advises WEBTOON on New Platform with Disney and Minority Investment

Kirkland & Ellis advised WEBTOON Entertainment (NASDAQ: WBTN) on a non-binding term sheet with The Walt Disney Company (NYSE: DIS) for the development of an all-new digital comics platform that will feature current comic book runs and include decades of past comics from across Disney’s portfolio including Marvel, Star Wars, 20th Century Studios and more. Alongside the planned commercial collaboration, the term sheet provides for Disney to become an investor in WEBTOON pursuant to a 2% equity investment. The proposed equity investment and the commercial collaboration are subject to the parties entering into definitive agreements on mutually agreeable terms and customary closing conditions.

Read the transaction press release

The Kirkland team included corporate lawyers Ed Lee and Arjun Mocherla; and capital markets lawyers Mike Kim and Christina Thomas.