Pirate Bay sale dead in the water?
 

In a few days time Global Gaming Factory is supposed to have gathered millions of dollars in funding so they can acquire The Pirate Bay. But according to Wayne Rosso, the former CEO of Grokster who was involved with GGF recently, this is unlikely to happen. Meanwhile, The Pirate Bay is giving GGF a week before they cancel the deal.

Last month the BitTorrent community was shaken up when GGF publicly announced that it would take over The Pirate Bay and turn it into a legal outfit. They said they would harvest computing resources from some of its users, money from others and pay off copyright holders and indeed some of the users with money from ISPs. It was an incredible plan.

GGF painted a bright future for the site and two weeks ago Wayne Rosso, ex-CEO of Grokster joined GGF in their ambitious project, hoping to close some deals with record labels and get investors excited at their plans.

However, Rosso has already quit his position, claiming GGF?s CEO Mr. Pandeya was not straightforward with him.

?We decided that we?re not going risk our reputation further,? Rosso told TorrentFreak. According to Rosso he and his partners never received the payments promised to them and Mr. Pandeya made several other promises he couldn?t keep either.

?The more time we spent with Mr. Pandeya, the less confident we were,? Rosso said, adding that he feels the funding required to close the deal is not going to be raised based on the current lack of workable plans.

Not all was bad though. The support and enthusiasm of at least one record label was something he had never seen before according to Rosso. Unfortunately, it now seems that this enthusiastic response was based entirely on false promises.

?I don?t think there?s going to be any money raised with GGF?s current (lack of) plans,? Rosso told TorrentFreak. Besides Rosso and his partners, the people who were supposed to finance the acquisition were also misinformed.

When confronted with the news, a Pirate Bay insider said they would give GGF a week to get insurance from the investors, otherwise the deal is off. Pirate Bay spokesman Peter Sunde told us that he doesn?t know what will happen to the Pirate Bay in the future, when the deal is off the table. Time will tell.

Article Here

I don't get it - they were found guilty but the site's up and even taking some business propositions. When the damn thing will be closed already?

interesting :2 cents:

PB still working?

:1orglaugh:1orglaugh:1orglaugh:1orglaugh:1orglaugh :1orglaugh

Who could've guessed ;)

i saw on tv yesterday that filings are now going after the ISP to shut them down because they will not take down the site.

personally, id just push everyone to a $40 PPS site to have some spending money when i get out of jail lol

I was under the impression that the OWNERS were found guilty - not the site :)

That's not going to work, they have servers in multiple locations. Besides, 3 new trackers have launched, two of them already tracking ALL of The Pirate Bay's torrents. I even read that all torrents on TPB has been updated to include at least one of these new trackers.

TPB could be shutdown tomorrow and the torrents would keep running... it's a tricky battle for the entertainment industry.

don't think anyone will touch it now

Yep I thought that too and that's fucked up imo - it's like finding the owners of the crackhouse guilty but then letting the crackhouse itself to keep doing business as usual.

That's kind of funny.

Part 1. Hey, we're selling out - Thanks for your money but fuck you.

Part 2. Hey, ummh.. sale didn't work out, do you still love me?

Not sure if their members would be too happy about this.

1. They have more money than they can spend secured offshore.

2. People are always in the hunt for torrents.

Do you seriously think the users give 2 squirrels nuts about how the owners of the site feel about them as long as the torrents work?

I love bad news headline puns, did you come up with this one yourself or did it come with the article?