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Pirate Bay Acquisition by Global Gaming Factory Starts to Sink

50°
273w ago - 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.

Furthermore, [Register or Login to view links] 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.
 

The Pirate Bay Bought By Global Gaming Factory X

400°
278w ago - After the lengthy Pirate Bay trial and verdict along with an appeal and a biased judge, it appears a Swedish software firm named Global Gaming Factory X has [Register or Login to view links] the network for 60 million SEK (Approx $8 million USD).

Press Release: STOCKHOLM, Jun 30, 2009 (BUSINESS WIRE) -- The listed software company, Global Gaming Factory X AB (publ) (GGF) acquires The Pirate Bay website, http://www.thepiratebay.org, one of the 100 most visited Web sites in the world and the technology company Peerialism, that has developed next generation file-sharing technology.

Following the completion of the acquisitions, GGF intends to launch new business models that allow compensation to the content providers and copyright owners. The responsibility for, and operation...
 
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