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Pirate Bay Buyer Chairman Resigns

CmdrTaco posted about 5 years ago | from the not-a-good-week-for-them dept.

The Almighty Buck 65

Xemu writes "Global Gaming Factory X (GGF), the company that plans to purchase Swedish file-sharing site The Pirate Bay, has encountered an additional setback. Last week trading in GGF stock were suspended due to suspected insider trading. On Friday, Magnus Bergman, GGF chairman, submitted his resignation to the Swedish Companies Registration Office. Bergman's resignation is the latest in a series after the previous departures of board member Johan Sällström and adviser Wayne Rosso. The CEO of GGF, Hans Pandeya, is being pursued by the Swedish enforcement service for mounting unpaid debts. In an interview with the Swedish business daily 'di.se' today, CEO Hans Pandeya says that the deal is still on."

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In a totally unexpected scenario... (1, Troll)

Haffner (1349071) | about 5 years ago | (#29171941)

Trying to get pirates to pay for their media does not succeed.

Re:In a totally unexpected scenario... (2, Insightful)

Krneki (1192201) | about 5 years ago | (#29172085)

I don't think there are yet on this part.
All I can see is some media and business hysteria going on. The pirates are still active in Somalia.

Re:In a totally unexpected scenario... (4, Insightful)

Kjella (173770) | about 5 years ago | (#29172097)

Whatever trouble GGF is in, it's not because of TPB. Not yet, anyway. This sounds like a classic last-ditch attempt business model of "Let's announce how we'll take over the world and secure VC funding for it on the hype". Kinda like how SCO announced they were suing IBM and licensing Linux, which both were puffs of smoke. As the house of cards appears to collapse a little too fast, I'd be very surprised if the deal ever happens.

Re:In a totally unexpected scenario... (0)

Anonymous Coward | about 5 years ago | (#29176559)

Here's the thing, though-

Should we really be surprised that website created solely for piracy is being purchased by a company run by a crook?

That sounds like being surprised your meth lab is being purchased by Scarface.

Re:In a totally unexpected scenario... (1)

DotMasta (1089813) | about 5 years ago | (#29180245)

Pirates get more booty :) This ought to show if that holds true

I'm a huge faggot (-1, Flamebait)

Anonymous Coward | about 5 years ago | (#29171953)

Please rape my face.

Re:I'm a huge faggot (0)

Anonymous Coward | about 5 years ago | (#29172275)

kdawson, is that you?

Re:I'm a huge faggot (0)

Anonymous Coward | about 5 years ago | (#29172875)

It's not rape if you want it.

Re:I'm a huge faggot (1)

Nathrael (1251426) | about 5 years ago | (#29176029)

Unless he's underage. His brain certainly is.

Optimistic (1)

Shrike82 (1471633) | about 5 years ago | (#29172005)

The CEO of GGF, Hans Pandeya, is being pursued by the Swedish enforcement service for mounting unpaid debts. In an interview with the Swedish business daily 'di.se' today, CEO Hans Pandeya says that the deal is still on.

Are you sure about that Hans? Really? Only those armed Enforcement Officers [wikipedia.org] coming towards your office would seem to suggest otherwise...

Hans Gruber? (0)

Anonymous Coward | about 5 years ago | (#29172425)

Talk to me, where are my detonators? Where are they, or shall I shoot another one?

Go **** yourself, Hans.

Re:Hans Gruber? (1)

R2.0 (532027) | about 5 years ago | (#29172783)

Snape? Is that you? You've gained some weight.

yar (3, Funny)

networkconsultant (1224452) | about 5 years ago | (#29172007)

Thar be a conflict of intrest thar!

Re:yar (1)

LuxMaker (996734) | about 5 years ago | (#29175967)

Looks like the Pirate Bay is all out of booty. Arrr!

Enron? (0)

Anonymous Coward | about 5 years ago | (#29172015)

It looks almost as if they publicized the whole PB deal just to inflate the shares of the company, and then one by one leave the company (with the proceeds in their pockets maybe?)... Classical case of Enron-itis.

pure speculation (4, Insightful)

rs232 (849320) | about 5 years ago | (#29172125)

"It looks almost as if they publicized the whole PB deal just to inflate the shares of the company, and then one by one leave the company (with the proceeds in their pockets maybe?)... Classical case of Enron-itis"

Pure speculation on your half and Enron was never about falsely inflating the stock but outright fraud as in they cooked up fake trades that were actually between subsidiaries of Enron, a classic shell game.
--

Citibank Hack Blamed for Alleged ATM Crime Spree"> [wired.com]

Hackers breach Heartland Payment credit card system [usatoday.com]

Re:pure speculation (3, Insightful)

nedlohs (1335013) | about 5 years ago | (#29172349)

Was just a copy-n-paste from the comments on the source article, so "on your half" doesn't really apply to the anon coward...

And it's actually the Swedish stock exchange and other authorities who brought up the "mmm this look like an internal pump and dump, and that would be insider trading" when they suspended trading in that stock: http://news.cnet.com/8301-1023_3-10315020-93.html?tag=mncol;txt [cnet.com]

But yes, different than Enron.

Re:pure speculation (1)

Runaway1956 (1322357) | about 5 years ago | (#29173219)

"falsely inflating the stock" and "outright fraud".

Seems to me that the former is a subset of the latter, no? Aren't all falsifications just fraud, when you cut through the legalese?

Very ironic, indeed (2, Funny)

Noam.of.Doom (934040) | about 5 years ago | (#29172037)

Pirates are trying to buy other pirates

tpb down (0)

Anonymous Coward | about 5 years ago | (#29172109)

Been down for a few days now far as I can tell. No idea if there is relation or just a random event, but usually it doesn't just go down.

GGF (0)

Anonymous Coward | about 5 years ago | (#29172151)

Sounds more like Pie-rats to me.

Punishment? (2, Funny)

Rik Sweeney (471717) | about 5 years ago | (#29172271)

Last week trading in GGF stock were suspended due to suspected insider trading.

Maybe they'll make the perpetrators walk the plank.

(Oh come on, I'm allowed to do that joke once)

Re:Punishment? (1)

ewertz (1191025) | about 5 years ago | (#29177067)

Doesn't look to me that TPB even has a plank left to stand on.

Re:Punishment? (0)

Anonymous Coward | about 5 years ago | (#29177239)

Doesn't look to me that TPB even has a plank left to stand on.

Ouch. For your sake, I hope your sword is mightier than your pen.

Why Do We Care? (0)

Anonymous Coward | about 5 years ago | (#29172301)

Sorry this long ago feel into the who really cares category.

What after TPB? (1)

TorKlingberg (599697) | about 5 years ago | (#29172455)

I wonder what will happen if The Pirate Bay is closed down or turned into a site for legal torrents. A lot of the other torrent sites relies on the Pirate Bay tracker. What other large, public bittorrent trackers (not just .torrent mirrors) are there?

Re:What after TPB? (0)

Anonymous Coward | about 5 years ago | (#29172513)

Everyone, shh! Don't give our trackers away!

Re:What after TPB? (4, Informative)

j.sanchez1 (1030764) | about 5 years ago | (#29172677)

I wonder what will happen if The Pirate Bay is closed down or turned into a site for legal torrents. A lot of the other torrent sites relies on the Pirate Bay tracker. What other large, public bittorrent trackers (not just .torrent mirrors) are there?

http://openbittorrent.com/ [openbittorrent.com]

Re:What after TPB? (1)

TorKlingberg (599697) | about 5 years ago | (#29174777)

http://openbittorrent.com/ [openbittorrent.com]

Interesting, but according to Wikipedia it uses the same tracker servers as The Pirate Bay, and appears to be operated by Fredrik Neij (one of the group behind TPB).

Re:What after TPB? (0)

Anonymous Coward | about 5 years ago | (#29180181)

Exactly, as is Torrage [torrage.com] . Together the two sites accomplish exactly the same role as TPB does now, minus the search engine (which can easily be accomplished by Google and the myriad of torrent search engines around).

It basically IS TPB, and the owners are selling GGF a dummy.

(LOL, captha is "astounds"...heh, I wonder how many people this realization astounds :-) )

Re:What after TPB? (0)

Anonymous Coward | about 5 years ago | (#29182397)

The trackers are not part of the sale.

Re:What after TPB? (2, Insightful)

Krneki (1192201) | about 5 years ago | (#29173435)

I wonder what will happen if The Pirate Bay is closed down or turned into a site for legal torrents. A lot of the other torrent sites relies on the Pirate Bay tracker. What other large, public bittorrent trackers (not just .torrent mirrors) are there?

No worries, there are plenty of open trackers out there, but the first rule is, never talk about torrents.

Re:What after TPB? (0)

Anonymous Coward | about 5 years ago | (#29174061)

I thought that was usenet

Re:What after TPB? (1)

Krneki (1192201) | about 5 years ago | (#29174489)

I thought that was usenet

Nah, it applies to everything that is good and free, if too many are doing it, it spoils the fun.

Re:What after TPB? (1)

klapaucjusz (1167407) | about 5 years ago | (#29174053)

A lot of the other torrent sites relies on the Pirate Bay tracker. What other large, public bittorrent trackers (not just .torrent mirrors) are there?

When a tracker goes down, most BitTorrent implementations will automatically (and invisibly to the user) switch to the DHT [wikipedia.org] .

Re:What after TPB? (1)

scarboni888 (1122993) | about 5 years ago | (#29176755)

Gee - I guess I'll have to get a television & subscribe to cable.

NOT!

Pirate bay is off-line already. (1)

krischik (781389) | about 5 years ago | (#29172505)

Either that or I have a very shitty connection right now. Anybody to confirm?

Re:Pirate bay is off-line already. (0)

Anonymous Coward | about 5 years ago | (#29172543)

Either that or I have a very shitty connection right now. Anybody to confirm?

tracker is down as well as the website, as of now.

Re:Pirate bay is off-line already. (4, Informative)

JustinOpinion (1246824) | about 5 years ago | (#29172557)

FYI, you can use DownForEveryoneOrJustMe.com [downforeve...justme.com] to check these kinds of things. It appears that the Pirate Bay is indeed offline right now [downforeve...justme.com] .

Re:Pirate bay is off-line already. (0)

Anonymous Coward | about 5 years ago | (#29173063)

I wouldn't trust that tool so much. According to it, my webserver's offline. It is online, however, and even responds to ping just fine.

Re:Pirate bay is off-line already. (0)

Anonymous Coward | about 5 years ago | (#29173651)

Yeah, it doesn't even work for my web server, http://localhost. How crap.

Re:Pirate bay is off-line already. (0)

Anonymous Coward | about 5 years ago | (#29174205)

Just because the address responds to ping doesn't mean the web server is online and responding to HTTP.

Re:Pirate bay is off-line already. (2, Informative)

Yaotzin (827566) | about 5 years ago | (#29174403)

I know it's redundant but it's telling me that google is down...

http://downforeveryoneorjustme.com/google.com [downforeve...justme.com]

Re:Pirate bay is off-line already. (2, Informative)

Yaotzin (827566) | about 5 years ago | (#29174445)

Too fast there, but a Svenska Dagbladet, one of Sweden's biggest newspapers are also reporting that TPB is down due to a threat of being fined issued to their ISP, Black Internet.

Re:Pirate bay is off-line already. (1)

dbet (1607261) | about 5 years ago | (#29172575)

Pirate Bay has some occasional downtime but it's never more than a a few hours.

Re:Pirate bay is off-line already. (0)

Anonymous Coward | about 5 years ago | (#29173631)

Pirate Bay has some occasional downtime but it's never more than a a few hours.

Since Thursday last, at least (I was gone for a week camping), it seems that TPB is down every morning and then at some point, they come back up. Not sure why, but my thought is that they're gearing up (or down as the case may be) for their permanent shut down. Either that or their servers are really having problems. I've yet to see anything posted on the site itself as to the reason for the daily outage.

Re:Pirate bay is off-line already. (0)

Anonymous Coward | about 5 years ago | (#29173041)

the transition to the new owners is supposed to happen sometime in august.. so maybe they're at it

Pirate bay disconnected by order of Swedish court (4, Informative)

Svenne (117693) | about 5 years ago | (#29173655)

Swedish Internet bandwidth reseller Black Internet has been ordered today by the swedish court Tingsrätten to cut of access to The Pirate Bay, or face a fine of 500000 SEK (approx. $70870.5).

http://www.idg.se/2.1085/1.242518/pirate-bay-borta-fran-nate [www.idg.se] (link in swedish).

The same as above machine translated by Google [google.com]

Re:Pirate bay is off-line already. (1)

cpghost (719344) | about 5 years ago | (#29174805)

TPB is up and running perfectly here (Germany).

@02:49PM vs @06:05PM (1)

krischik (781389) | about 5 years ago | (#29182609)

They where offline for about 2 hours.

any ceo would bail (1)

nimbius (983462) | about 5 years ago | (#29172585)

at the sight of this deal. it stinks like napster, wont make any money after its ground slowly through regulatory gears, and still has plenty of people interested in pummelling it in and around the court systems of various countries until it cant upset the dominant business model of entertainment and information. the pirate bay is just ugly from all sides, but many of the things they say about torrents are precisely the same things theyve said about grammaphones, tapes, dvr, and even cable TV. corporations fight these things not because theyre new and frightening methods of giving consumers choice and opportunity in a free market, but because they haven't figured out a way to patent, dominate, license, and control the system in a way that promotes revenue and profit...

in short, you have freedoms, it takes time to restructure the definition of your freedoms and interests so that a business model becomes an integral element of them, and its expensive and time consuming to do it every time something new comes along.

TPB (0, Redundant)

mschoolbus (627182) | about 5 years ago | (#29172605)

I can't even access the TPB site at all.

Is it just gone now?

"*knock knock knock* It's Dave!"
"Dave's not here!"

didnt make sense from the get go (2, Insightful)

zcold (916632) | about 5 years ago | (#29172901)

The whole deal never made any sense anyways. Like many of you said, why would people start paying for something they originally got for free. Because now it would be legit? The people downloading illegally never wanted to be legit in the first place..otherwise they would have gone to a store....

Re:didnt make sense from the get go (1)

cpghost (719344) | about 5 years ago | (#29174467)

The people downloading illegally never wanted to be legit in the first place..otherwise they would have gone to a store....

There used to be very successful stores with acceptable pricing like AllOfMp3. The "legal" stores a la iTunes are just way too pricey. Had they adapted their prices to, say, 10ct per non-DRMed song @192kbps, they could have made a stand against freeloaders... and with increased sales, they would have made up much of the lower price in profits. With 99ct/song or $10 to $20 per physical CD, forget it: that's for suckers who have way too much money to burn (or credit cards to max out despite the crunch). Everyone else needs something much more realistic. Again, AllOfMp3 had it just about right, price-wise.

Re:didnt make sense from the get go (1)

zcold (916632) | about 5 years ago | (#29174547)

agreed

Nothing but ashes (1)

twmcneil (942300) | about 5 years ago | (#29174709)

Agreed. I think it's "accidental lightening". With a brick and mortar shop when things turn sour and you don't want anything left for your creditors to take, you set a fire in the stock room. This is the same thing but with an on-line concern instead of bricks and mortar. The end result will be identical though, nothing but ashes. Fitting in a way.

Re:didnt make sense from the get go (1)

Bogtha (906264) | about 5 years ago | (#29176107)

The people downloading illegally never wanted to be legit in the first place..otherwise they would have gone to a store....

Not necessarily. Illegal downloads are often more convenient than legitimate copies. You don't have to go to a store, any DRM has been removed, there's often a greater selection available, and the products are sometimes better. For instance, why would I buy the crappy region 2 DVD with none of the extra features the region 1 DVD has? Why would I pay for the privilege of having to find out how to reconfigure my DVD player when I can just download the same film? Why would I hunt down a second-hand copy of a CD and give money to somebody of unknown trustworthiness for a product of unknown quality when I can download the same music for free?

When you can see that in many cases it is simply a lot more convenient to download illegally, you don't have to resort to guessing that they are breaking the law for the hell of it, there's a perfectly good explanation right in front of you. Distribute your product in a way that is more convenient than illegal downloads and you'll get many of those people "who just don't want to be legit" back.

Re:didnt make sense from the get go (1)

zcold (916632) | about 5 years ago | (#29177287)

you make a very good point. I think Valves Steam software is a very good example of this, which I completely overlooked as I am a very faithful user of. I just recently bought a pack of games that could have easily totaled hundreds of dollars in store and its available to me where ever I am (with a high speed connection of course)...Convenience...

I smell a bailout by the government (0)

Anonymous Coward | about 5 years ago | (#29173303)

The Pirate Bay is too big to fail!

I smell something shady... (1)

Viper2026 (648272) | about 5 years ago | (#29173323)

If the record companies and friends are trying to kill the pirate bay, the intention to start a pay model is sure to do just that... I wonder now if there was even any intention to "legalize" or "legitimize" the pirate bay, or if this was all just a ploy to expedite the site's death without having to go as much through the legal system.

Re:I smell something shady... (0)

Anonymous Coward | about 5 years ago | (#29174543)

Relatively homogeneous communities like Sweden are especially susceptible to frauds because we tend to trust "tribal" members more than outsiders. For the same reason in this country Mormons are unusually susceptible to scams perpetrated by fellow Mormons. The financial collapse of Iceland, a county of 3000,000 people apparently all related is another sad example.

Use OneSwarm instead! (1)

wealthychef (584778) | about 5 years ago | (#29175621)

Every time I see one of these articles, I like to remind folks of a newer technology that seems to work really well: OneSwarm [washington.edu] It does not require a central tracker. It totally kicks butt. The lack of a central tracker is a plus and a minus, though. It needs a web interface so that the noobs can join in with less pain.

R.I.P. Pirate Bay (1)

j_cocaine (1618405) | about 5 years ago | (#29177751)

Wow, their new business deal may not go through? The site has been shut down (again)? So many surprises! This is going to be horribly inconvenient, having to be slightly circumspect when we want to download stuff "illegally." I bet the *AAs have won, this time!
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