GGF Shareholders Approve Pirate Bay Buy... But No One Knows Where The Money Is

from the still-sketchy dept

Thu, Aug 27th 2009 11:09am — Mike Masnick

We're among those who think it's quite questionable as to whether or not the acquisition of The Pirate Bay by GGF will ever really go through. GGF's CEO Hans Pandeya has had a lot of trouble answering basic questions ever since the deal was originally announced. The company has had trading in its shares halted twice now, and many of the "big name" people that Pandeya used to show he was legit have separated themselves from the company -- often questioning Pandeya's ability to do this deal. So, lots of people are interested in the news that GGF shareholders have apparently "approved" the deal. But, that's somewhat meaningless as there still remains little evidence that GGF can actually scrape together the money needed to complete the purchase. This whole thing has been pretty questionable from the start, and there's nothing yet that suggests there's a real deal here at all.

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Filed Under: hans pandeya
Companies: ggf, the pirate bay

9 Comments

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Anonymous Coward, 27 Aug 2009 @ 11:24am

Perhaps the money comes indirectly or directly from what seems to have been a pump and dump move. Could TPB owners have played the market on this one, gotten themselves a boatload of cash (offshore), and they will buy themselves out?

Hmm.
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Kazi, 27 Aug 2009 @ 11:49am

Re:
Or just retire and buy content legally on a beatiful beach and have the wife pop kids out every 9 months for 9 years :)

(TPB Brain Power) > (Media Industry Brain Power) + (Lawyer Brain Power)
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Cyanid Pontifex (profile), 27 Aug 2009 @ 1:22pm

My bet is that The Pirate Bay owners are probably just doing this as a cash grab. Once they get the funds, they'll open up a new torrent tracker, and things will start all over again.
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TheStupidOne, 27 Aug 2009 @ 1:53pm

Re:
except nobody is willing to claim ownership. the founders deny owning the site
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wnyght, 27 Aug 2009 @ 2:53pm

"But No One Knows Where The Money Is"

thinking about a great joke with a treasure chest and a map with an X on it, but i think the joke would be too obvious.
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Anonymous Coward, 27 Aug 2009 @ 3:27pm

I was thinking they could just find the "money.torrent" file and everyone in the world would send them 1 penny.
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Anonymous Coward, 27 Aug 2009 @ 4:07pm

Re: Re:
Not everybody wants to ruin their wealth by being mormon.

Also, I hope GGF do get the money together, pay the people who kick ass, and then learn the hard way they won't make a tenth back with their current plan for TPB.
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pacman, 28 Aug 2009 @ 4:57am

Big deal
I love/loved Pirate bay. But when you think about it it, it was/is just a tracker site. Most of the loyal followers have moved on to the hundreds of other torrent sites and settled in. What i find interesting is the press that this is getting. What i mean is that in the past know one would even look twice atr the goings on about the downfall and sale and possibly rebirth of a torrent site, as now the story is all over the internet. I submite that torrent sites are getting more mainstream media coverage, perhaps this is a precursor to a more future where torrenting is more accepted and widely used even tolerated by big __AA's in the form of some kind of deal with the sites or ISP's.
One thing is for sure, Models have changed today in a very fast way, Long gone are the old ways of renting a movie from the store or buying a music cd. people want there music and movies on demand. Give the people what they want.
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Jay, 2 Mar 2010 @ 7:57am

Well, the Pirate Bay deal may have fallen through, but it seems like old Hans hasn't given up. It seems he is about to re-enter the digital media work. Check out this story at The Music Void and see what you think - http://bit.ly/bX2mq0 Another failed endeavour?
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