Copyright Law

Major Record Label Deal with New Pirate Bay ?Imminent?

By soulxtc

Looks like the Swedish BitTorrent tracker site may just be able to go legit after all.

One of the biggest hurdles Global Gaming Factory faces in trying to make the Pirate Bay a legitimate online content destination is obviously getting copyright holders’ permission to sell their content.

So it’s certainly welcome news to hear that GGF is about to sign a deal with one of the major record labels.

“We almost have a contract ready with one of them,” GGF CEO Hans Pendaya told the Local.

Wayne Rosso, the former GGF exec tasked with securing licensing deals with the music industry, left the company in late July and declared that his talks with execs from the Big 4 record labels had thus been “blown up.”

He left because of “strong doubts” that GGF would secure enough financing to complete the Pirate Bay deal. Pandeya quickly issued a press release saying that not only was the deal secure, but that it already had $4.05 million USD lined up and that it would be completed August 27th.

If GGF does succeed in signing one of the Big 4 then it would further strengthen their business plan of turning the Pirate Bay into a legal media store.

Stay tuned.

jared@zeropaid.com

Full post as published by ZeroPaid on August 06, 2009 (boomark / email).