THE PIRATE BAY NOT LIKELY TO BE SOLD OUT
This post is regarding the torrent-based file sharing giant The Pirate Bay being auctioned at US $ 7.8 Million. Looks like the giant is still surviving the battle of the beasts. The company has suffered a lot of nightmares during the past season. First, it is sued for breaching copyright lawsuits. Then, its founders go to jail for the same. And, after all the mess is up, the company is auctioned to Global Gaming Factor X for US $ 7.8 Million.
But now the scene is turning out to be something different from what it looked like last fortnight. It seems the Global Gaming hasn't got enough funds to work out the deal. Okay, lets take a deeper look into the scene. It all started when Global Gaming hired Wayne Rosso, the former head of Grokster.com (A file-sharing company that was sued for copyright infringement by MGM and 27 other companies) to negotiate with music and other media biggies to get legal license for the website's contents.
Wayne has now quit Global Gaming. In an interview with CNET, Wayne said that the reason he quit Global Gaming was that the company hadn't been open in the necessary manners to him and that the company didn't seem to possess enough funds to takeover Pirate Bay with the bid.
The second issue with the takeover is that Pirate Bay, even after being sued for copyright infringement, still doesn't seem to remove the objectionable content from the website. Hence the consortium of companies that filed the lawsuit against the company, want The Pirate Bay to be shut down.
So, will the company be totally shut down, or will it be back on track with the host of torrents? Possibly not! Will it be seen back in the market for some other legal business? Share your opinions below! :)
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