Trader’s Narrative

In a strange twist of events, the most notorious file sharing website, The Pirate Bay, is being bought out by a small public company, Global Gaming Factory for about $7.8 US million.

According to the spokesperson for TPB, Peter Sunde, GGF approached the owners of TPB a few months ago and negotiations finalized recently with the transaction expected to be completed by August 2009.

It will be interesting to see how this will effect the ongoing attempts by the RIAA/MPAA to eliminate sites like the Pirate Bay. Obviously, as a public company, they will be an easy target. But according to the unofficial sources, the Pirate Bay is going to decentralize their technological structure even more so that a separate company is handling the trackers and another the torrent listings.

Source: AktieTorget

It remains to be seen if this is a way for the Pirate Bay to continue its swashbuckling ways or if this means a change in their business model. In any case, if you’re brave enough, you can now own a part of this ongoing saga.

The shares of GGF jumped after the announcement but looking at the long term chart (above) there is a massive amount of overhead resistance.