Announcement
Character.AI files for Chapter 11, with Disney proposed as lead bidder for a $20 million asset purchase
Neowin reports the license is non-exclusive and the platform will shut down if no buyer steps forward to maintain operations.
TLDR
The Verge reports Character.AI filed for Chapter 11, with Disney proposed as lead bidder. Under the proposed sale, Disney would pay $20 million for certain assets and receive a non-exclusive IP license. The platform will shut down if no buyer steps forward to maintain operations.
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