Internet cafe company offers $7.8 million for The Pirate Bay

Global Gaming Factory X will look for ways to pay copyright holders for files downloaded via the site

The owners of The Pirate Bay have agreed to sell the site to a Swedish Internet cafe operator for 60 million Swedish kronor (US$7.8 million), the company said on Tuesday.

Global Gaming Factory X (GGF) said it wants to find ways to pay content providers and copyright holders when their content is downloaded via The Pirate Bay, which tracks who is sharing files over the BitTorrent peer-to-peer service.

Although The Pirate Bay has been successful in attracting visitors, in order to live on it needs a new business model that satisfies the requirements of content providers, broadband operators, end users, and the judiciary, GGF said.

GGF also plans to acquire Swedish company Peerialism, which has developed its own P-to-P technology, for 100 million kronor -- of which at least 50 million will be in cash and up to the equivalent of 50 million in newly issued shares, according to GGF.

At least half of the 60 million kronor for The Pirate Bay will also be paid in cash, the rest in shares, GGF said.

The money will be used for "Internet-related projects in the shape of political activism," Peter Sunde, spokesman for The Pirate Bay, told Computer Sweden in an interview via Twitter.

Sunde and the site's other founders won't receive any money, he said. Ownership of the site was transferred to others in 2006, according to Sunde, who for legal reasons doesn't want to say who the current owners are.

GGF will take over operations and responsibility for the site when the transaction closes. It expects that to happen in August, subject to a number of closing conditions. The company has to obtain financing, which it plans to do by issuing new shares.

The Pirate Bay site and the people behind it have been under increasing legal pressure. In April Sunde, Fredrik Neij, Gottfrid Svartholm Warg and Carl Lundström were sentenced to a year in prison and ordered to pay damages of 30 million Swedish kronor (US$3.9 million). Last week the judge in that case was cleared of accusations of bias.

Movie and music companies have also tried to stop the site by taking telecommunications operators to court in Denmark, Italy and, most recently, Norway. In Denmark they have been successful, so far, but their efforts to block access to the site in Italy failed. A court case is also brewing in the Netherlands.

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Mikael Ricknäs

IDG News Service
Topics: bittorrent, the pirate bay
Comments are now closed.

Latest News Articles

Most Popular Articles

Follow Us

GGG Evaluation Team

Kathy Cassidy

STYLISTIC Q702

First impression on unpacking the Q702 test unit was the solid feel and clean, minimalist styling.

Anthony Grifoni

STYLISTIC Q572

For work use, Microsoft Word and Excel programs pre-installed on the device are adequate for preparing short documents.

Steph Mundell

LIFEBOOK UH574

The Fujitsu LifeBook UH574 allowed for great mobility without being obnoxiously heavy or clunky. Its twelve hours of battery life did not disappoint.

Andrew Mitsi

STYLISTIC Q702

The screen was particularly good. It is bright and visible from most angles, however heat is an issue, particularly around the Windows button on the front, and on the back where the battery housing is located.

Simon Harriott

STYLISTIC Q702

My first impression after unboxing the Q702 is that it is a nice looking unit. Styling is somewhat minimalist but very effective. The tablet part, once detached, has a nice weight, and no buttons or switches are located in awkward or intrusive positions.

Resources

Best Deals on GoodGearGuide

Compare & Save

Deals powered by WhistleOut
WhistleOut

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?