Character.ai files Chapter 11; Disney steps in with $20M opening bid
gaganghotra_ · x · 2026-10-13
Per the reshared tweet and official announcement screenshot, Character.ai has initiated a voluntary Chapter 11 bankruptcy to facilitate a court-supervised sale. Disney reportedly filed a $20M opening bid — not to buy the company, but just the IP license and claims, while providing "transition services" via former c.ai employees it poached beforehand. Court filings state that if such a bid falls through, the platform will be wound down. As the poster puts it: "it's absolutely over."
Related event: Character.AI Files for Chapter 11 as Disney Buys Assets for $20 Million(6 posts)→
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