Character.ai Files for Bankruptcy Protection, Disney Plans to Acquire Partial Asset Rights for $20 Million

Character.ai has filed for Chapter 11 bankruptcy protection in Delaware, USA, and plans to sell all or most of its assets. A subsidiary of Disney has agreed to acquire a non-exclusive perpetual license for certain intellectual property rights and related claims for $20 million and transitional services, becoming the initial bidder, while the transaction remains open to better offers. The sale is expected to be completed by the end of November or early December, during which the platform will continue to operate; if no buyer is found to support the platform's continued operation, it will gradually shut down.

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