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Pirate Bay buyer lines up record deal

AFP/The Local · 5 Aug 2009, 16:24

Published: 05 Aug 2009 16:24 GMT+02:00

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GGF, which is set to acquire the illegal download site, revealed on Wednesday that a deal was imminent.

"We almost have a contract ready with one of them," chief executive Hans Pendaya told AFP.

He declined to name which record label GGF was planning to strike an agreement with but said it was one of the "Big Four" from EMI, Universal Music, Sony Music and Warner Music.

Pendaya explained the idea behind the deal was to sell the record label's content and back catalogue through the Pirate Bay, which it agreed to buy at the end of June.

He added GGF's purchase of the popular download website is set to be rubber- stamped by shareholders by August 27th at the latest.

The Pirate Bay is one of the world's largest download sites, claiming to have 20 million registered users.

Founded in 2003, The Pirate Bay makes it possible to skirt copyright fees and share music, film and computer game files for free using bit torrent technology, or peer-to-peer links offered on the site -- yet none of the material can be found on the site's server.

Story continues below…

Its three founders and the site's main financial backer were sentenced to a year in jail in April by a Stockholm court.

Their sentencing came at a time when many countries across the world were looking at ways to tighten up the law on internet piracy.

AFP/The Local (news@thelocal.se)

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Your comments about this article

17:34 August 5, 2009 by The Lix-a
it all doesnt make sense to me why didnt the guy just set up his own music site. Is he going to change the name piratebay then? purchaselegallybay
17:54 August 5, 2009 by eZee.se
If thepiratebay does go legal, expect an exodus of people leaving it to go for greener pastures, there's no shortage of torrent sites out there (demoniod,ilovetorrents,bitsoup etc etc - google is your friend).

Remember, Napster in its time was the big dog... once it got "legalized" or to put it more appropriately "bastardized" it was uninstalled from peoples systems faster than Paris Hilton puts out....
20:10 August 5, 2009 by Texrusso
The PirateBay can go legal to reduce the amount letigations and hassles from the Judicial systems. Too much litigation is bad for business. However this does not equal to commercialization. A good business model can still create a symbiotic Win/Win relationship between users and record companies, the cash flow or Return on investment can be generated from other means. Let us wait and see what GGF have in mind before crucifying them. We have not seen their press release yet on the new business model apart from the news of acquiaition. Patient people....
11:20 August 6, 2009 by Pacey
Did the new owners try to commit insider trading!!

before this announcement Pirate Bay shares have jumped around 25% or so so was this dont to unload their holdings!!!

Moreover I agree if they impose a membership then who would want to use it with the ever hanging sword of giving client names who share the music illegally. PirateBay is in the long run effectively a Dead End!!
08:28 August 25, 2009 by atrelbeldo
Has pirate bay beem closed down?
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