Character.AI files for Chapter 11; Disney leads bidding with $20 million offer
Overview
Character.AI has filed for Chapter 11 bankruptcy in the US to facilitate a sale of the company and its assets, according to The Verge.
Disney is the lead bidder, offering $20 million for certain assets, transition support, and a nonexclusive license to unspecified intellectual property. The report does not identify the assets Disney would acquire.
The company expects the sale to close by late November or early December. It warns that the platform will be wound down if no suitable bid emerges.
Written by AI from the articles below · updated Oct 13, 7:17 AM ET
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- The Verge · AINewsPickCharacter.AI files for bankruptcy as Disney bids $20 million for assets
AICharacter.AI has filed for Chapter 11 bankruptcy in the US to facilitate a sale of the company and its assets. Disney is the lead bidder, offering $20 million for certain undisclosed assets, transition support, and a nonexclusive license to unspecified intellectual property. The company expects the sale to close by late November or early December and warns the platform will be wound down if no suitable bid emerges.
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