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The PirateBay Sold. Might Go Legitimate!
Techtree News Staff, Jun 30, 2009 1801 hrs ISTGlobal Gaming Factory X (GGF) is in the process of acquiring TPB for $7.8 million
This might just be the end of Pirate Bay as most users know. According to latest reports, a gaming company, Global Gaming Factory X (GGF), is in the process of acquiring TPB for $7.8 million. A blog post on the popular website has confirmed that things are moving in this direction and most users of the site seem to have been disappointed by the decision to "give away" TPB.
GGF, the new owner of the sites, expects the acquisition formalities to be completed by August. By September, the site is set to launch new "business models" and will compensate copyright holders and content providers. In simpler terms, you might just have to pay for that download! No matter how subtly they put it in a recent blog post on The Pirate Bay blog, this is a clear diversion from TPB's earlier "model" which involved no payments from the downloaders. "We would like to introduce models which entail that content providers and copyright owners get paid for content that is downloaded via the site," said Hans Pandeya, CEO GGF.
GGF has also developed a new P2P distribution technology which will be used on The Pirate Bay and it will be backwards compatible with BitTorrent. As for the founders Gottfrid Svartholm Warg and Peter Sunde, the profit from sales will fund a foundation to promote free speech and freedom of information on the internet. Piratebay users will be least interested in that bit, for sure! The duo, along with two others, had been in the past, convicted in The Pirate Bay case, and sentenced each to a year in jail.
GGF, the new owner of the sites, expects the acquisition formalities to be completed by August. By September, the site is set to launch new "business models" and will compensate copyright holders and content providers. In simpler terms, you might just have to pay for that download! No matter how subtly they put it in a recent blog post on The Pirate Bay blog, this is a clear diversion from TPB's earlier "model" which involved no payments from the downloaders. "We would like to introduce models which entail that content providers and copyright owners get paid for content that is downloaded via the site," said Hans Pandeya, CEO GGF.
GGF has also developed a new P2P distribution technology which will be used on The Pirate Bay and it will be backwards compatible with BitTorrent. As for the founders Gottfrid Svartholm Warg and Peter Sunde, the profit from sales will fund a foundation to promote free speech and freedom of information on the internet. Piratebay users will be least interested in that bit, for sure! The duo, along with two others, had been in the past, convicted in The Pirate Bay case, and sentenced each to a year in jail.
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