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Swedish company to buy Pirate Bay |
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Source: CNET - Posted by Anthony Pell
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The Pirate Bay, a file-sharing site entangled in a court case over pirated music, will be bought by a Swedish software company.
Global Gaming Factory X (GGF) announced the deal Tuesday. The company, which provides digital distribution tools for Internet cafes, will buy The Pirate Bay for cash and shares amounting to $7.76 million. The acquisition is expected to be completed in August.
The Pirate Bay, a BitTorrent tracking site, is involved in a legal battle with major copyright holders, including Warner Brothers, MGM, and Columbia Pictures. In April, the Web site's founders were convicted by a Swedish court of copyright infringement, ordered to pay nearly $4 million, and sentenced to a year in jail. The defendants appealed the decision and were denied a retrial last week.
Read this full article at CNET
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