Swe­den’s Pi­rates bailed out

The Irish Times - Friday - The Ticket - - Weekly Guide To Entertainment Friday 03.07.2009 -

The founders of Pi­rate Bay have sold their stakes in the com­pany. The con­tro­ver­sial site hit head­lines ear­lier this year when Peter Sunde, Carl Lund­ström, Fred­erik Neij and Got­tfrid Svartholm Warg were found guilty of “as­sis­tance to copy­right in­fringe­ment”, sen­tenced to a year in prison, and fined ¤2.8 mil­lion in a Swedish court.

The four­some have ap­par­ently solved the prob­lem of the fine by sell­ing Pi­rate Bay for a re­ported ¤5.4 mil­lion to Global Gam­ing Fac­tory XAB. The soft­ware maker plans to turn the site (which hosts links to il­le­gal file­shar­ing tor­rents) into a le­git­i­mate en­tity by pay­ing fees to artists and mu­si­cians who sup­ply down­load links via Pi­rate Bay.

A re­port by Reuters claimed that the four will not per­son­ally ben­e­fit from the sale, but that the money will go to­wards other “in­ter­net projects”. Ex­perts sug­gest that the site will lose a large por­tion of its users in the same way that Nap­ster did when it be­gan to charge to down­load ma­te­rial.

The con­tro­ver­sial Pi­rate Bay web­site hasn’t been scuttled

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