Posts tagged with 'record labels'
If there was any group of individuals that you would expect to fight copyright holders to the bloody end, the people behind The Pirate Bay (TPB) were it. But apparently, a costly legal defeat can really take the wind out of just about any pirate's sails.
According to a press release issued today, the owners of TBP have sold TBP to publicly-traded software company Global Gaming Factory X (GGF) for $7.8m and GGF "intends to launch new business models that allow compensation to the content providers and copyright owners".
Pirate Bay, the Swedish website known for hosting one of the largest indexes of pirated BitTorrent files, is embroiled in perhaps the copyright battle of the century.
Unlike many websites that engage in or facilitate alleged the sharing and downloaded of pirated content, The Pirate Bay has managed to stay in business since 2004 despite its visibility. And as record labels and studios see it, Pirate Bay is a business, complete with management and investors.
There has been a lot of talk about the decline of the traditional entertainment industry the past several years.
As a growing and maturing Internet has become a much more powerful
medium for the distribution of media, traditional entertainment
enterprises, from television networks to record labels, have
increasingly faced new challenges that many argued threaten their