Robin Hood of internet, Pirate Bay sold to Global Gaming for $7.5 million

Pirate Bay, the highly controversial file-sharing website, was acquired yesterday by Global Gaming Factory X, a relatively unknown software company for $7.8 million, which has sparked widespread anger among Pirate Bay users, who call the sale 'a deal with the devil.'

Sweden-based Pirate Bay, the Robin Hood of the internet is a notorious torrent-tracking site, where visitors could access and download movies and songs without paying royalties to the music or movie industry.

Hated by the music and movie industry but loved by its 20 million unique visitors, who have written hundreds of blogs worldwide against the deal since Global Gaming intends to take Pirate Bay straight with a new legal business model.

"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 Hans Pandeya, CEO of Global Gaming.

''The Pirate Bay is a site that is among the top 100 most visited internet sites in the world. However, 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, " he added.

In April, the founders of the Pirate Bay, Frederik Neij, Gottfrid Svartholm Warg, Carl Lundstrom and Peter Sunde, were sentenced to a year in prison and fined $3 million each for promoting copyright infringement of the opening ceremony of the 2008 Beijing Olympics.
They are current appealing against the verdict.