Report
Character.ai files for Chapter 11; Disney commits $20 million as stalking-horse bidder
The Hollywood Reporter says Disney seeks a non-exclusive, perpetual license to certain Character.ai IP and claims.
TLDR
The Hollywood Reporter reports that Character.ai is filing for Chapter 11 bankruptcy and Disney Worldwide Services has committed $20 million as the stalking-horse bidder for a license to certain IP and claims. An auction is expected in late November or early December 2026. Disney can match a competing deal but is not guaranteed to win.
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