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Music Industry Wants a Cut of Pirate Bay Sale

Posted by kdawson on from the blood-from-a-stone dept.

suraj.sun writes "The music industry will attempt to seize money paid to acquire the Pirate Bay. A couple of weeks back the Global Gaming Factory, a Swedish software company, announced that it would acquire the Pirate Bay for $7.8 million. Since then the company has been touting a new business model and even hiring executives, such as Wayne Rosso, the former Grokster president, to legally obtain content from film and music industries. What remains to be seen is how that sale might be affected by attempts by the music industry to collect the $3.6 million damages that a Swedish court awarded it in April. Alex Jacob, a spokesman for the IFPI, said that the group has always intended to collect the damages award, but now, should the sale go through, music execs know that the original Pirate Bay operators have access to the money." According to CNet, the four original Pirates claim they no longer own the company and that no money from the sale will go to them.

8 of 214 comments (clear)

  1. News flash by $RANDOMLUSER · · Score: 5, Funny

    The music industry wants a cut of your liver as well.

    --
    No folly is more costly than the folly of intolerant idealism. - Winston Churchill
  2. I got lucky! by Monkeedude1212 · · Score: 5, Funny

    It's a good thing I pirated a copy of the Pirate Bay, otherwise my money would end up going to the music industry!

    1. Re:I got lucky! by BabyDuckHat · · Score: 4, Funny

      Yeah, sorry about that. Actually, all money goes to the music industry. It's in the constitution.

  3. Re:I'm confused by $RANDOMLUSER · · Score: 4, Funny

    iTunes

    --
    No folly is more costly than the folly of intolerant idealism. - Winston Churchill
  4. Re:I'm confused by eln · · Score: 4, Funny

    Hey now, Napster converted to a pay model and it worked great for them!

  5. Not a big deal by commodoresloat · · Score: 5, Funny

    $3.6 million? If each song is worth like $150k, what is that, like 25 songs? Just send the RIAA a coupon for a free download of Thriller and The Wall.

  6. Re:A 4 step program... by Drakkenmensch · · Score: 5, Funny

    Replace step 1 with "???" and you have the internet business model that has prevailed since the mid-nineties!

  7. Re:RIAA & Artists by CorporateSuit · · Score: 4, Funny

    "Please understand, you're not stealing from a corporation. There is only the five of us. We make a living doing this, and only this. When you steal my music, YOU ARE STEALING FOOD FROM MY DAUGHTER'S PLATE."
    -David "Lars Ulrich" Phipps, Metallica drummer (emphasis was his)

    Of course, this was apparently when Napster was downloading food as well as songs. That technology did not, successfully, carry over into torrents.

    --
    I am the richest astronaut ever to win the superbowl.