Character.AI files for bankruptcy; Disney bids $20M for assets
What happened
On October 13, The Verge reported that Character.AI has filed for Chapter 11 bankruptcy protection in the US to push through a sale of the company and its assets. The filing lists estimated liabilities of $50 million to $100 million. Disney plans to bid $20 million for some assets and will act as stalking horse, setting the floor for other offers. The report also says Disney would get a non-exclusive license to some intellectual property. Only the filing and the proposed bid are disclosed so far; the report does not say the asset sale has closed.
Written by AI from the coverage · updated 2 hours ago
Coverage
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- The Verge · AIPickCharacter.AI files for bankruptcy protection, plans to sell some assets to Disney
Character.AI has filed for Chapter 11 bankruptcy protection in the US to push through a sale of the company and its assets, with Disney bidding $20 million for part of them. The filing lists estimated liabilities of $50 million to $100 million. Disney would be the lead bidder, setting the floor for other offers, and would get a non-exclusive license to some intellectual property.
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