Variety reports: “Terapin Studios, a U.S.-Korean media investor backed by NPX Capital, has paid $160 million to acquire Toomics Global, one of South Korea’s fastest rising platforms for webtoons. Webtoons, vertically-scrolling comic strips designed to be viewed on smartphones, emerged in South Korea about 15 years ago and have become a major cultural phenomenon across Japan, Korea and much of Southeast Asia.”

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