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Pirate Bay sold, goes legal

Infamous piracy site sold off
The Pirate Bay has affectively gone legal, after being acquired by Global Gaming Factory.

Full release follows:

STOCKHOLM, Jun 30, 2009 (BUSINESS WIRE) -- 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.

GGF acquires domain names and related web sites, including http://www.thepiratebay.org. The consideration for the purchase amounts to MSEK 60 consisting of at least MSEK 30 in cash and up to the equivalent of MSEK 30 in the form of newly issued shares in GGF (according to valuation in connection with the completion of the acquisition). The stock share of the purchase price is expected to be equivalent to a maximum of three per cent of the total number of outstanding shares of GGF after the acquisition. In the case that three percent of the shares is not equivalent to 30 MSEK, the major shareholder of GGF has declared that he will contribute the equivalent in cash.

GGF has entered into an agreement to acquire the shares in Peerialism AB. Peerialism AB is a software technology company with its origin in KTH Royal Institute of Technology and SICS, Swedish Institute of Computer Science and which presently is owned by the employees. The owners as well as the employees will continue to work for the company. Peerialism develops solutions for data distribution and distributed storage based on new p2p- technology. The access to the technology is secured by the acquisition. The consideration amounts to in aggregate MSEK 100 consisting of at least MSEK 50 in cash and up to the equivalent of MSEK 50 in newly issued shares in GGF (according to valuation during a period of ten days after the announcement). The share part of the purchase price should not exceed five percent of the total number of shares in GGF after the transaction. In addition GGF has undertaken to make initial investments of MSEK 25 in the acquired business.

"Peerialism has developed a new data distribution technology which now can be introduced on the best known file - sharing site, The Pirate Bay. Since the technology is compatible with the existing it will quickly allow for new values to be created for all key stakeholders and facilitate new business opportunities", says Johan Ljungberg, CEO Peerialism.

Completion of the acquisitions are primarily subject to GGF obtaining financing for the acquisition, that any necessary resolutions are adopted by a General Meeting of GGF, and that GGF and the Board of Directors consider that the acquired assets can be used in a legally and appropriate way. GGF intends to issue new shares in order to obtain the necessary financing for the acquisition. The acquisition is deemed to be completed in August 2009. In connection therewith, the ownership of, and responsibility for, the acquired assets will be transferred to GGF.

"As a result of the acquisitions of The Pirate Bay and Peerialism, GGF will have a strategic position in the international digital distribution market. File sharing traffic is estimated to account for more than half of today's global Internet traffic. The Pirate Bay has a global brand and holds a key position with over 20 million visitors and over one billion page views per month," says Hans Pandeya.

A Press briefing will be held on June 30th 2009 at 11.00 at Sparvagshallarna, Birger Jarlsgatan 57 A, Stockholm.

computerandvideogames.com
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Posted by y2jimbob_2001
This is almost as depressing as the Michael Jackson news...
Posted by KMakawa
Pirate Bay are saying that they didnt accept because of the money, they accepted because over the past 2 years they havent really been doing news etc, and it was slowly dieng, so they accepted to it for a new owner.

I personally think they accepted the 30million sek, anyone would really.
Posted by captain savaloy
Its really sad, shame there aren't any other sites like TPB around..........oh hang on...... :roll:
Posted by svd_grasshopper
mininova fagged out too.

all thats left really is dodgey sites with malicious pop-ups.

they are going to drive it underground then they will never get to the source of the problem.

cause it wont dissapear by taking down sites that provides torrent links!

there will be a new method as soon as they become effecient in stopping torrent sites.
Posted by jon_hill987
isohunt is still good.
Posted by MPH
If you don't know where to look that is. I know of plenty of decent sites...

I even know of a site that sells DVD screener rips with menus and the actual DVD cases for about £2 each.

I'm not saying I use any of these... but I know people who do... And I know they're all top quality.
Posted by ste hicky
monova is still up and running isn't it?

i've been using that since mininova wimped out. demonoid is ok too.
Posted by svd_grasshopper
all the good clear, concise sites have been targetted.

sites selling screeners and cases deserve to come down.
Posted by captain savaloy
Tons of sites if you know where to look, also, the aren't plauged by leechers that shutdown without seeding back.
Posted by PTG
There are plenty of safer private torrent sites and still many good public trackers, like Demonoid, EZTV and Mininova.

jon_hill987. I think Isohunt just catalogues other trackers material, so when PB goes, so will a lot of their stuff.

@svd_grasshopper There already is a new method for downloading, its stuff like 'Usenet'.
Posted by JimSteele
Pirate Bay was always pretty shit anyway. Private trackers ftw.
Posted by BeNdEr91
... and the traffic goes down by 100%
Posted by WHERESMYMONKEY
Guess thats that fine they had to pay all taken care of then.

Wouldn't surprise me if they set up something else when they get released from prison.

Who thinks Pirate Bay will be one of the most visited sites on the net once you have to pay. Not Me!
Posted by The_KFD_Case
Agreed. That said, I doubt the website will remain as popular now that it's changed ownership, become legitimate and will probably start charging for things. I didn't use to support PC piracy but with the raping of customer rights by various companies in an effort to protect their IP rights, I've come to view certain pirate efforts as freedom fighters for the "little people" who don't have the time or money to get embroiled in years long legal battles.
Posted by jon_hill987
pirate bay just catalogued trackers as well, they didn't host them, that was their defence.
Posted by altitude2k
This reminds me about how popular and great Napster turned out after it went legal

:roll:
Posted by The_KFD_Case
Yep. That thought occurred to me too.
Posted by ParmaViolet
I worked for the company that bought it at the time (well, part of it) - I think they've since sold it to Best Buy. Strange considering how many at the company were using in work when it was illegal.

:)
Posted by Eyhren
+1 for the napster comment. It's just not gonna work unless they limit the number and content of the files available. Can you imagine having to pay the royalties for all the current torrents available on tpb? And what about the old stuff, the abandonware and ancient emulators. What happens to those?
Posted by svd_grasshopper
i have a n64 emulator. you just download them from rom sites. rom is the buzzword for google and you will find them.

use a wired 360 pad to control it but goldeneye has horrific controls. even when changing the in-game settings. they 'C' buttons on the n64 pad were a travesty.

mario kart works good though. toad is the man.

pity i cant find an emulator for megadrive/snes that uses a USB pad. old ****ing printer ports! :x
Posted by Dajmin
Abandonware is legal and can be picked up anywhere though, places like Home of the Underdogs specialise in it. TPB has always been synonymous with illegal downloads, so I reckon this will put a serious dent in the P2P world.
I know what it's like looking for torrents of stuff from most places - the sites are plagued by porn ads and horrendous popups.

That said, just because the name Pirate Bay has been bought doesn't mean that the founders of the company won't turn around and create another one that does the same thing but with a better name.
Posted by timewarp1
The way forward.Although It will be interesting to see what sort of prices they are charging for their business model. You would'nt steel a car...
Posted by only_777
Bit-torrent is so old now, all the cool kids use newsbin these days!
Posted by Sleepaphobic
its always abt the private trackers tbh but watever they're all family in a sense. Now i just found out that they're not gonna have a re-trial (ya i guess im late) even after tht judge fiasco. that is amazing, the fact tht you can sue and jail people for providing infrastructure is very strange. oh, google, hmmm ya that is probably the best thing to use actually so whats the deal?
in all honesty these faggish lawsuits actually make me want to pirate a heap load of sh1t than anything else
Posted by The_KFD_Case
Personally I wouldn't steal a car except for certain extreme scenarios that involve life or death which are exceedingly unlikely to happen from where I stand at present time. However, I think the psychology of it is directly affected by how much money is at stake and what it is you perceive you get for the money. Buying a car is something immediately tangible in a physical sense and has some readily apparent benefits (i.e. quick transportation, storage capabilities, etc.). A single song or a game you might play for 8 hours thanks to some strangely placed "0"s and "1"s is harder to empathize with for many I reckon. It doesn't help that some game and almbum prices are just taking the piss for their general perceived value.
Posted by timewarp1
Ok agreed, but my point is directly relating to pirate bay. The owners have taken the poo for everyone that uses that site, resulting in a court case/prison. Surely they are entitled to this "reward" . Its like society in general that have caused it, but a few scapegoats that took the flack, and if they can make money from it then hats off to them. There isnt any guilty person in this case, its a majority and the whole issue needs looking at. I think that by doing some kind of subscription charge where you pay say £10 a month to download whatever is a good idea, as it still gives respect to the artists and the music industry meets you half way. Sure there will be always some who get it free, just as much as there will be some fat record boss on a fat bonus.
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