Napster’s $10 Million Bid for The Pirate Bay RejectedGlobal Gaming Factory (GGF), the company planning to acquire The Pirate Bay, has received a bid of $10 million from John Fanning, the former Napster CEO and uncle of its founder, Shawn. Other interested parties have contacted GGF in recent weeks, but thus far, they have all had their multi-million dollar offers rejected. Earlier this week Wayne Rosso cast doubt over the ability of GGF CEO Hans Pandeya’s ability to raise the funding for the Pirate Bay takeover. In a response to these allegations the board of GGF has revealed that there is more interest than some had expected.
One of the parties that offered a 2 million dollar investment in the acquisition is John Fanning who operated Napster, one of the first mainstream file-sharing applications. In addition, the board revealed that Fanning offered GGF 10 million dollars for The Pirate Bay itself. John Fanning discussed his plans with Hans Pandeya in London but they did not reach an agreement. The 10 million bid on the site and its assets has been rejected and thus far there is no official deal closed on the 2 million investment offer. In addition to Fanning’s offer, GGF has also received an informal bid of 16 million dollars for The Pirate Bay by an unnamed Russian company. This offer has also been declined, GGF’s board announced.
“The basis for a legal site has been placed and contracts are expected to be concluded shortly with a leading player in the entertainment industry. The development of the company is very positive, and goes as planned,” Hans Pandeya said in a comment.
TorrentFreak contacted Napster’s John Fanning to find out what his plans are for the site, if he would be in the position to acquire it. He might be interested in working out a deal of his own if GGF’s acquisition of the BitTorrent tracker fails after all. We haven’t heard back from him yet, but we will update the article as soon as do.
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