As expected, Hans Pandeya, CEO of Global Gaming Factory X, told reporters in Sweden on Thursday that his company's acquisition of The Pirate Bay will go through.
Everyone reading that statement should take it with a grain of salt, or maybe a whole shaker full.
Global Gaming, a Stockholm-based software maker and operator of Internet cafes, stirred up a media storm in June by announcing that the company, which only generated about $800,000 in revenue in 2008, planned to to buy The Pirate Bay for about $8 million. The company's board voted to go ahead with the plan.
Of the many challenges that threaten the deal, Pandeya has still not produced the money to pay for the site. While the company voted to go ahead--Pandeya controls 60 percent of the stock--a final acquisition still appears unlikely.
More: http://news.cnet.com/8301-1023_3-10319152-93.html
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Everyone reading that statement should take it with a grain of salt, or maybe a whole shaker full.
Global Gaming, a Stockholm-based software maker and operator of Internet cafes, stirred up a media storm in June by announcing that the company, which only generated about $800,000 in revenue in 2008, planned to to buy The Pirate Bay for about $8 million. The company's board voted to go ahead with the plan.
Of the many challenges that threaten the deal, Pandeya has still not produced the money to pay for the site. While the company voted to go ahead--Pandeya controls 60 percent of the stock--a final acquisition still appears unlikely.
More: http://news.cnet.com/8301-1023_3-10319152-93.html
