- Not long ago it was reported
that The Pirate Bay was sold for approximately $8 million USD to the Global Gaming Factory.
According to FastCompany.com (linked above), Global Gaming Factory has failed to acquire the millions of dollars in funding necessary.
is reporting that Wayne Rosso
, the former CEO of Grokster who was involved with Global Gaming Factory recently, said it's unlikely to happen and as a result The Pirate Bay is giving them a week before cancelling the deal.
To quote: "I don't think there's going to be any money raised with GGF's current (lack of) plans," Rosso told TorrentFreak. Besides Rosso and his partners, the people who were supposed to finance the acquisition were also misinformed.
When confronted with the news, a Pirate Bay insider said they would give GGF a week to get insurance from the investors, otherwise the deal is off. Pirate Bay spokesman Peter Sunde
told us that he doesn't know what will happen to the Pirate Bay in the future, when the deal is off the table.