Music Industry Wants a Cut of Pirate Bay Sale

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.

Comments

It's not even about the money. It's about fear.

[Opportunist]

Let's be reasonable here. Does the RIAA (or their national equivalents all over the globe) sue for money? Not really. They sue for the shock and awe effect. Copy this and you gotta pay 'til your grandchildren are out of the house, that's the message. They don't care about winning or losing a trial, they care about shock news that you're gonna pay through the nose and that there's no escape from that debt for the rest of your life.

Now imagine someone manages to weasel out of this and get away.