Feeds

Pirate Bay sells out to Swedish software firm for $7.7m

Plans biz model that compensates copyright owners

Choosing a cloud hosting partner with confidence

Global Gaming Factory X AB (GGF) has agreed to buy BitTorrent tracker site The Pirate Bay for $7.7m (60m Swedish Crowns), according to a statement on the company's website.

The Swedish software outfit confirmed the acquisition this morning. Under the deal GGF has also bought file sharing tech firm Peerialism.

"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 the company's CEO Hans Pandeya.

GGF will take control of the site once the transaction completes, which is expected to happen next month.

"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," said Pandeya.

The Pirate Bay also confirmed the buyout this morning in a blog post on its website.

"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!", it said.

The co-founders of The Pirate Bay were fined $3.6m in the recent court case. Meaning, on the face of it, they stand to make a profit. Not that they were ever in it for the money.

Meanwhile, key players in the trial against The Pirate Bay have started to give their first reactions to the news.

"We don't know the details and there are many questions to ask about how this will work in practice but we would be delighted if this resulted in The Pirate Bay turning into a legitimate licensed service," the International Federation of the Phonographic Industry's CEO and chairman John Kennedy told El Reg. ®

Security for virtualized datacentres

More from The Register

next story
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
4chan outraged by Emma Watson nudie photo leak SCAM
In the immortal words of Shaggy, it wasn't me us ... amirite?
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.