The Pirate Bay Sold to Public Company with Plans for "Legit" Service

We all know what really goes down over at The Pirate Bay, and apparently so does the Swedish District court, which found TPB's defiantly outspoken founders guilty of assisting copyright infringement and ordered them to serve a year in prison and pay a combined $3.6 million in fines. And if the latest rumor turns out to be true, they'll be the ones laughing all the way to bank, even if ultimately paying the fine, which would leave them with $4.2 million.

That's the amount that would be left over after Global Gaming Factory X, a gaming company, acquires the torrent sharing site for $7.8 million. GGF says it plans to complete the acquisition by August and then launch new business models that would pay copyright owners.

"We would like to introduce models which entail that content providers and copyright owners get paid for content that is downloaded via the site," said Hans Pandeya, CEO of GGF. "The Pirate Bay is a site that is among the top 100 most visited Internet sites in the world."

Of course, illegal access to copyrighted content might play a small huge role in why TPB is so popular, but GGF believes it can build on the torrent site's success while going completely legit.

Image Credit: Volvo