Engadget is reporting that The Pirate Bay has sold out to Global Gaming Factory for $7.8 million USD.

According to a press release, "GGF intends to launch new business models that allow compensation to the content providers and copyright owners."

You can read it straight from TPB's blog, here:
The Pirate Bay - The world's largest BitTorrent tracker

There is also a Press Release, here:
MarketWatch.com Story

Mike

hope everything will be same with the new owner too and it would be really great if its legit all the way.

i watch a lot of world cinema (films from japan to brazil and anything in between) which i would never been able to as they would never hit the theater in this part of the world nor the dvds would have been readily available.

btw who will bear the litigation and all the bad things

This just keeps getting worse...

Suspicions of Insider Trading Surround Pirate Bay Buyers | TorrentFreak

Quoting 

Shares in GGF rose dramatically yesterday on the news that the company is set to acquire The Pirate Bay. However, about a week ago equity marketplace Aktietorget shut down trading of GGF’s stock after unusually large trading volumes led to a rapidly increasing stock price, prompting suspicions of illegal trading.

Mike