The acquisition will be completed by August this year, and the change of ownership will take place after that. What is interesting is a statement by Hans Pandeya, CEO GGF saying that they "would like to introduce models which entail that content providers and copyright owners get paid for content that is downloaded via the site". I am sure after reading this, most users wont be amused. and they arent, reactions to blog posts on the site havent been very kind. "Sellouts" is the reaction almost everyone is using. Most users believe that after the takeover, all copyrighted content would be removed from piratebay. As some users put it, more than 90% of piratebay content is copyrighted stuff, so getting copyright permissions would mean that most contents would be removed. And this has infuriated most.
One thing is for sure. After the takeover, the number of users using piratebay is going to plummet, judging by the reactions. Infact the request for deletion of piratebay accounts have been so many that the team has decided to create an account deletion application.
This might well be the end of the road for Piratebay and as users put it, its curtains down for one of the most revolutionary sites ever.
Full Press Release here: http://www.globalgamingfactory.com/