Character.ai Files for Chapter 11 in Delaware; Disney Makes $20 Million Stalking Horse Bid
WILMINGTON, Del. — Character Technologies Inc., the company behind the SI chat platform Character.ai, announced on Oct. 12 that it has filed a voluntary Chapter 11 case in the U.S. Bankruptcy Court for the District of Delaware to run a court-supervised sale of all or substantially all of its assets. The platform will continue operating during the sale process, the company said.
Before filing, Character.ai reached a “stalking horse” agreement with Disney Worldwide Services Inc.: Disney will bid $20 million for a non-exclusive perpetual license to certain company intellectual property and certain claims, and will provide transition services staffed by former Character.ai employees it has hired, to keep the platform running safely during the sale. The deal remains subject to higher or better offers.
The company expects the sale process to close in late November or early December 2026. If no transaction emerges that allows the platform to continue, Character.ai will be wound down.
Source: Business Wire (company statement)
Source: GSM · USA (original Chinese edition)
Photo: 特拉华州威尔明顿天际线，CC BY 4.0，作者 Quintin Soloviev（Wikimedia Commons）
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