Character.ai files Chapter 11 to pursue value-maximizing sale, lines up Disney affiliate as $20M stalking horse bidder

Character.ai (Character Technologies Inc.) has filed for Chapter 11 bankruptcy protection to pursue a value-maximizing sale, and has agreed to sell select assets including intellectual property to a Walt Disney affiliate for $20 million, subject to court approval. A court filing estimated the company's assets and liabilities at between $50 million and $100 million.

Detected & updated continuously · Source: Nebula