Media News - Wednesday, July 01, 2009
Pirate Bay sold to Swedish software firm
Infamous BitTorrent site The Pirate Bay has been bought by Swedish software firm Global Gaming Factory X (GGF), which has promised a new business model in which copyright owners and content providers will be compensated for the use of their intellectual property. The news comes just a day after the four men involved in running the site lost their appeal to have the recent verdict quashed. Tomas Norström, the trial judge, had been accused of bias in delivering a guilty verdict, but the Swedish Court of Appeals ruled that this was not the case, meaning that the Pirate Bay owners still face jail and a fine of SEK 30m (EUR 2,7m). The Pirate Bay confirmed the news in a blog posting, but said that users should not be worried about the new owners when they take control of the site in August. According to the blog, the profits from the estimated SEK 60m GGF will pay for the site will "go into a foundation that is going to help with projects about freedom of speech, freedom of information and the openness of the net". GGF also announced the purchase of peer-to-peer data distribution software firm Peerialism for USD 13m, with the intention of using Peerialism's technology on The Pirate Bay. (VNU Net)
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