Todd Spangler NY Digital EditorWattpad, a top user-contributed fiction app, is combining its TV, film and books division with the studio operations of digital comics platform Webtoon.
The combo comes a month after South Korea-based Naver, Webtoon’s owner, closed the $600 million acquisition of Wattpad.Naver said it will fund the newly merged Wattpad Webtoon Studios with a commitment of $100 million for development and production financing — aiming to produce a broad new slate of fan-driven entertainment on a global basis.Wattpad Webtoon Studios will be led by president Aron Levitz (pictured above), who has overseen Wattpad Studios since it was formed in 2016.
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