Disney strikes $60 million Character.AI deal amid bankruptcy
Character.AI has entered insolvency proceedings this week, and court filings tie that step to a deal letting Disney hire most of its staff, including former CEO Karandeep Anand.
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What happened
Disney reached a $60 million deal involving Character.AI, which declared bankruptcy this week. Court filings indicate the bankruptcy was central to the arrangement, which lets Disney hire the bulk of Character.AI's employees, including its former CEO Karandeep Anand.
Why it matters
The arrangement lets Disney take on most of Character.AI's staff while avoiding the company's lawsuits.
Timeline
- Oct 18, 8:49 AM ET: Disney's $60 million deal for Character.AI is among the week's leading AI business stories.
- Oct 19, 10:45 AM ET: Court filings tie Character.AI's bankruptcy to a deal that lets Disney hire most of its staff.
Coverage
- Disney found a way to buy Character.AI without buying its lawsuits (arstechnica.com)
- Disney’s $60 Million Character.AI Deal, Meta’s Brazil Scrutiny and Anthropic’s IPO Ambitions: This Week in Tech (TradingView)
- Disney’s $60 Million Character.AI Deal, Meta’s Brazil Scrutiny and Anthropic’s IPO Ambitions: This Week in… (benzinga.com)
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