Pirate Bay sold, will work for better copyright handling

A Swedish software company has announced plans of buying The Pirate Bay, a website dedicated to the distribution of media outside and above the concepts of intellectual property, and that they will work towards better integration of copyright awareness.

Global Gaming Factory X AB said on a statement last Tuesday that they would be purchasing ownership for The Pirate Bay for the amount of approximately $7.7 million. They also confirmed that they would be working towards compensation for firms that have demanded compensation for legal damages.

The Pirate Bay Four, or the four Swedish founders of the website, have been sentenced to one year in prison, along with fees for damages amounting to about $3.6 million.

“We would like to introduce models which entail that content providers and copyright owners get paid for content that is downloaded via the site,” said Global Gaming Factory Chief Executive Hans Pandeya.