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Swedish software company Global Gaming Factory has agreed to buy controversial Bittorrent tracker The Pirate Bay in a deal worth £4.7m.
Tuesday, 30 June 2009
As part of the deal, Global Gaming Factory’s chief executive Hans Pandeya, pledged that the company would find ways to compensate copyright owners for downloaded material. “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 Pandeya.
Pirate Bay’s four founders were sentenced in April to one year in jail and ordered to pay damages of £2.1m for running one of the world’s most popular sites for downloading files on the Internet.
Pandeya acknowledged that in order to survive in the future, there will have to be changes at The Pirate Bay. “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”.
Global Gaming Factory has also agreed to buy the shares in Peerialism, a company that develops solutions for data distribution and distributed storage on P2P tech.
The Pirate Bay has confirmed the sale, and added: "TPB is being sold for a great bit underneath its value…If the new owners will screw around with the site, nobody will keep using it. That’s the biggest insurance one can have that the site will be run in the way that we all want to".
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Tuesday, 30 June 2009
As part of the deal, Global Gaming Factory’s chief executive Hans Pandeya, pledged that the company would find ways to compensate copyright owners for downloaded material. “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 Pandeya.
Pirate Bay’s four founders were sentenced in April to one year in jail and ordered to pay damages of £2.1m for running one of the world’s most popular sites for downloading files on the Internet.
Pandeya acknowledged that in order to survive in the future, there will have to be changes at The Pirate Bay. “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”.
Global Gaming Factory has also agreed to buy the shares in Peerialism, a company that develops solutions for data distribution and distributed storage on P2P tech.
The Pirate Bay has confirmed the sale, and added: "TPB is being sold for a great bit underneath its value…If the new owners will screw around with the site, nobody will keep using it. That’s the biggest insurance one can have that the site will be run in the way that we all want to".
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