222w ago - Just over a month ago it was reported that the Pirate Bay acquisition by Global Gaming Factory was starting to sink.
Today CEO Hans Pandeya of Global Gaming Factory, the company aiming to buy the Pirate Bay, has suffered yet another loss -including a luxury car, a motorcycle and a luxury boat- all to tax authorities over unpaid debt.
To quote: "Having failed to pay a debt of some 780,000 kronor ($110,400) owed to the Swedish tax authorities, at the end of August enforcement officers ran out of patience with Hans Pandeya and moved to seize his assets.
A tow truck took away Pandeya's car, which we can now reveal was a rather nice BMW 745iA, and his Harley Davidson. The tax authorities valued the car at 150,000 kronor ($20,800) and the motorcycle at 40,000 kronor ($5,550) so his tax debt still wasn't cleared, not by a long way.
The bailiffs needed to find more funds but it was reported in the Swedish media that they were unable to find any bank accounts. But the trail didn't go cold.
Following an anonymous tip-off, bailiffs homed in on the Royal Motorboat Club in Stockholm and there they found it - not a torrent galleon with cannons either...
228w 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, TorrentFreak.com 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.
232w 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 purchased 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...