Legal Niches

The Pirate Bay Sold, Apparently Going Legit

By gamepolitics

The Pirate Bay going legit?

It would seem so, following the site's acquisition by Global Gaming Factory X. As reported by gamesindustry.biz, GGFX paid USD 7.8 million for what was once the web's top destination for illegal file sharing. That all came to an end, of course, with the recent copyright violation convictions of the site's operators in a Swedish court.

Hans Pandeya, CEO of GGF, explained the deal:

We would like to introduce models which entail that content providers and copyright owners get paid for content that is downloaded via the site.  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.

Business Wire reports that half of the purchase price is in cash with the rest in stock.

Full post as published by GamePolitics.com on June 30, 2009 (boomark / email).