The Pirate Bay Sold
June 30, 2009
" Sweden’s Global Gaming to buy The Pirate Bay
By Maija Palmer,Technology correspondent
Published: June 30 2009 11:56 | Last updated: June 30 2009 11:56
Global Gaming Factory, a Swedish software company, on Tuesday said it had agreed a $7.7m deal to buy The Pirate Bay, the free filesharing website at the centre of a notorious court case.
The four men running the website were sentenced to a year in jail and fines of $3.6m in April, after being sued by music and film companies for allowing people to illegally download copyrighted content. The Pirate Bay is one of the world’s largest website for downloading files over the internet.
Hans Pandeya, chief executive of Global Gaming Factory, said he would change the business model of The Pirate Bay to allow content owners to be paid for their material.
“We would like to introduce models which entail that content providers and copyright owners get paid for content that is downloaded via the site,” he said. “The Pirate Bay is a site that is among the top 100 most visited internet sites in the world. However, in order to live on, The Pirate Bay requires a new business model.”
Global Gaming Factory, which is listed on the Stockholm stock exchange, provides software to help manage internet cafes and gaming centres. However, it is now branching into the filesharing market.
The company also said on Tuesday it would buy Peerialism, another Swedish technology company that makes filesharing technology, for $13m. The company will raise money for the two transactions through the issue of new shares.
By using Peerialism’s new technology, Global Gaming Factory will try to create a new financial model for filesharing network – or “ecosystem” – by harnessing the vast number of people sharing files over the internet into a powerful, alternative network. Telecoms companies facing too much traffic on their own systems could then pay to send some of their data to this network. The filesharers would thereby earn money which could then be used to pay music and film companies for content.
However, Mr Pandeya said the company would not be able to compel any filesharers to pay content owners. “We are trying to create a different model that addresses the needs of the different parties. However, it is up to them if they want to participate,” he said.
Copyright The Financial Times Limited 2009
TPB Blog
TPB might change owner
Yes, it's true.
News reached the press today in Sweden - The Pirate Bay might get aquired by Global Gaming Factory X AB.
A lot of people are worried. We're not and you shouldn't be either!
TPB is being sold for a great bit underneath it's value if the money would be the interesting part. It's not. The interesting thing is that the right people with the right attitude and possibilities keep running the site.
As all of you know, there's not been much news on the site for the past two-three years. It's the same site essentially. On the internets, stuff dies if it doesn't evolve. We don't want that to happen.
We've been working on this project for many years. It's time to invite more people into the project, in a way that is secure and safe for everybody. We need that, or the site will die. And letting TPB die is the last thing that is allowed to happen!
If the new owners will screw around with the site, nobody will keep using it. That's the biggest insurance one can have that the site will be run in the way that we all want to. And - you can now not only share files but shares with people. Everybody can indeed be the owner of The Pirate Bay now. That's awesome and will take the heat of us.
The old crew is still around in different ways. We will also not stop being active in the politics of the internets - quite the opposite. Now we're fueling up for going into the next gear. TPB will have economical muscles to let people evolve it. It will team up with great technicians to evolve the protocols. And we, the people interested in more than just technology, will have the time to focus on that. It's win-win-win.
The profits from the sale will go into a foundation that is going to help with projects about freedom of speech, freedom of information and the openess of the nets. I hope everybody will help out in that and realize that this is the best option for all. Don't worry - be happy!
Posted Today 10:43 by TPB
Global Gaming Press Release
Acquisitions of The Pirate Bay and new file sharing technology, P2P 2.0
- Pave the way for compensation model
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 websites 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 of the site will be taken over by GGF in connection with closing of the transaction, which is scheduled for August 2009.
"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.
"The Pirate Bay is a site that is among the top 100 most visited Internet sites in the world. However, in order to live on, The Pirate Bay requires a new business model, which satisfies the requirements and needs of all parties, content providers, broadband operators, end users, and the judiciary. Content creators and providers need to control their content and get paid for it. File sharers' need faster downloads and better quality" continues Hans Pandeya. "
| http://www.ft.com/cms/s/0/3c2622d8-6...44feabdc0.html
