Torrent users all over the world today are in for a shock. A Swedish software firm Global Gaming Factory X (GGF) announced this morning that they have acquired The Pirate Bay for 60 million Swedish crowns, which is approximately $7.8 million. In addition GGF is also set to acquire shares in Peerialism, a company that develops P2P technology. Incidentally, on April last, The Pirate Bay was fined $3.6 million and it’s owners sentenced to one year in prison for running the site.
But this isn’t a mere change in ownership. GGF says that the company will “launch new business models that allow compensation to the content providers and copyright owners,”.
Global Gaming Chief Executive Hans Pandeya said:
We would like to introduce models which entail that content providers and copyright owners get paid for content that is downloaded via the site.
GGF also says that it will use the new P2P distribution technology developed by Peerialism on The Pirate Bay. The technology is said to be backwards-compatible with BitTorrent although details are scarce at the moment.
This means that there will be radical changes at The Pirate Bay after August 2009, when the changeover is scheduled to happen. Is this the death knell for The Pirate Bay ?