Submission + - Pirate Bay bought and new business model anounced (bbc.co.uk)
valentingalea writes: "The Pirate Bay has been bought by Global Gaming Factory (GGF) for 60m kronor ($7.74m).
According to the BBC, the GGF's chief executive Hans Pandeya said the business model for The Pirate Bay will continue to be a file-sharing site. The difference would be that the files would be hosted legally, rather than stolen from copyright holders, and also both the content providers and users will be paid. In order for all this to be viable, GGF will get money from the ISP's who can profit by decongesting their traffic and by (later on) leveraging the distributed computational power of the P2P medium.
Official press release from GGF here[PDF]."
According to the BBC, the GGF's chief executive Hans Pandeya said the business model for The Pirate Bay will continue to be a file-sharing site. The difference would be that the files would be hosted legally, rather than stolen from copyright holders, and also both the content providers and users will be paid. In order for all this to be viable, GGF will get money from the ISP's who can profit by decongesting their traffic and by (later on) leveraging the distributed computational power of the P2P medium.
Official press release from GGF here[PDF]."