In order to purchase Old Pirate Bay, Global Gaming Factory needs to raise millions of dollars – quickly. According to reports the company is undergoing some changes in ownership structure but their lawyer in a Dutch court today didn’t sound entirely confident, after anti-piracy group BREIN named GGF in a lawsuit against Old Pirate Bay.
After Global Gaming Factory (GGF) announced that it intends to buy The Pirate Bay for $7.8 million, shares in the company quickly doubled. The financial faith in the company’s plans for the world’s most prominent tracker were short lived though, as the share price is back to square one two weeks later.
After Global Gaming Factory X announced that it intends to buy The Pirate Bay for $7.8 million, the CEO of the company bombarded the press with his revolutionary plans for the site. By paying both the copyright holders and file-sharers the company aims to reshape the digital media landscape. We have our doubts.
Shares in GGF rose dramatically yesterday on the news that the company is set to acquire The Pirate Bay. However, about a week ago equity marketplace Aktietorget shut down trading of GGF’s stock after unusually large trading volumes led to a rapidly increasing stock price, prompting suspicions of illegal trading.
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Left Quote“The Pirate Bay has been one of the most important movements in Sweden for freedom of speech, working against corruption and censorship.
Peter Sunde Left Quote
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