Pulse2 Technology and Social Media News » John Fanning http://pulse2.com Sat, 26 May 2012 21:27:32 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 Napster’s $10 Million Offer For The Pirate Bay Gets Rejected http://pulse2.com/2009/08/01/napsters-10-million-offer-for-the-pirate-bay-gets-rejected/ http://pulse2.com/2009/08/01/napsters-10-million-offer-for-the-pirate-bay-gets-rejected/#comments Sat, 01 Aug 2009 14:27:37 +0000 Amit Chowdhry http://pulse2.com/?p=17875 Continue reading →]]>

Global Gaming Factory made an offer to buy out The Pirate Bay for $7 million about a month ago.  That deal is expected to close soon, but right out of left field another offer for The Pirate Bay has been made.

The offer came from John Fanning, the uncle of Napster founder Shawn Fanning.  John Fanning is the former CEO of Napster.  And Napster was bought out by Best Buy in September 2008 for $121 million.

The Pirate Bay turned down the offer shortly after GGF CEO Hans Pandeya and Fanning discussed the deal in London.  GGF also received a $15 million offer from an unnamed Russian company.  That would more than double GGF’s acquisition investment instantly.

“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,” stated Pandeya.

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