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The Pirate Bay acquisition to be cancelled?

Posted on Friday, July 31 2009 @ 20:46:42 CEST by

Torrent Freak reports the Pirate Bay sale is dead in the water, as Global Gaming Factory is unable to raise the money to close the deal. The site's info comes from Wayne Rosso, ex-CEO of Grokster, who joined GGF two weeks ago but already quit his position due to a loss of confidence in the company.
“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.



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