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The Pirate Bay’s Sale Drifts On

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Looks like the sale saga of The Pirate Bay may not be over quite yet. The sale of the site’s domain and trademarks to Swedish software firm Global Gaming Factory X was never completed last fall. But Global Gaming Factory X now says it expects a deal to be done by June 30 and says it will then offload the assets to a related third-party. In a statement, Global Gaming Factory X says that “a development stage” firm called “Business Marketing Services” has agreed to buy the Pirate Bay assets in exchange for a $10 million promissory note.

Business Marketing Services, which shares an unnamed majority shareholder with Global Gaming Factory X, says it wants to use the assets to “launch a paid for service with licensed content based on next generation filesharing technology.” The deal is contingent on the sale of The Pirate Bay assets to Global Gaming Factory X going through.

The track record here is extremely poor, however. Global Gaming Factory X initially announced it would buy the Pirate Bay in late June for just over $8 million. However, the acquisition was quickly mired in accusations of insider trading, insufficient funds, and doubts about whether the company’s plans for the site would work.

In early September, CEO Hans Pandeya said his deal to buy the Pirate Bay assets would be completed within two weeks. An Oct. 1 deadline also passed without a deal being announced.

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