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How TPB Goes Legal

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STOCKHOLM (Radsoft) -- Global Gaming Factory's Hans Pandeya says the acquisition of The Pirate Bay is on schedule. GGF have also acquired so much cash that they plan to pay for TPB in full by 12 September and not just half as originally planned.

With only little more than a week remaining until the extra board meeting 27 August Global Gaming Factory today presented their plan for making The Pirate Bay completely legal.

Today they have torrent files linked to copyright protected materials and if GGF acquire TBP then they become judicially responsible.

But Hans Pandeya says GGF are going to establish friendly relations with the record and film companies who are going to be compensated in the future.

GGF will have a new system online to take care of royalties for downloads. The system gives the companies the option of either removing the materials or receiving compensation. But Pandeya thinks most companies will opt for the latter.

'The players in the entertainment industry we spoken with are very aware that removing material will encourage users to go to other sites', said Pandeya. 'Our assessment is that the majority of the copyright holders will accept compensation from GGF and rather enter into contractual agreement with us.'

The current owners of TPB are Reservella Ltd registered in the Seychelles. They are to receive the money for the acquisition 12 September at the latest - the day TBP becomes formally owned by GGF.

'A group of private investors have delivered the 60 million so we changed the terms of acquisition. We said 30 million cash from the beginning but we'd rather take in the entire amount.'

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