Technologyby Corbin Bolies
Disney Bids on Character.ai Assets as Company Files Bankruptcy
Key Takeaways
- Character.ai has filed for Chapter 11 bankruptcy.
- Disney is the stalking-horse bidder with a $20 million offer.
- The deal includes intellectual property licenses and absorbing key staff.
- An auction process is expected to conclude by late November or December.
Character.ai has officially filed for Chapter 11 bankruptcy and initiated a court-supervised sale of its assets. Disney Worldwide Services has stepped in as the stalking-horse bidder with a $20 million agreement for non-exclusive intellectual property licenses and specific company claims. The deal also encompasses the transition of former Character.ai employees to Disney, following the recent recruitment of the chatbot platform's former CEO into a high-level technology role at Disney.
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