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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.