Technologyai
Disney Bids on Character.ai Assets as Company Files Bankruptcy
Character.ai, the popular yet controversial chatbot platform, has filed for Chapter 11 bankruptcy. As part of this court-supervised restructuring, the company is pursuing a value-maximizing sale of its assets. Disney has emerged as the stalking-horse bidder, agreeing to pay $20 million for a non-exclusive perpetual license to certain intellectual property. This move follows Disney's recent hiring of Character.ai's former CEO as its new chief technology officer.