Pirate Bay Buyer Loses Chairman

The prospective buyer of The Pirate Bay has lost its chairman just days ahead of the date by which it plans to close a deal to buy the file-sharing site.

On Friday, Magnus Bergman filed documents with the Swedish Companies Registration Office to make his defection from Global Gaming Factory X official. Bergman isn't ready to talk about the details that prompted his decision to leave the company at such a crucial time, saying he doesn't want to disturb the deal while its in progress -- but he will comment after a shareholders meeting on Thursday votes whether to approve the acquisition of The Pirate Bay, according to an interview in Swedish daily Svenska Dagbladet.

This isn't the first time Global Gaming Factory has lost key personnel since announcing plans to acquire the Pirate Bay. Board member Johan Sellström and former Grokster CEO Wayne Rosso, who worked as an advisor to Global Gaming Factory for a few weeks, have both left the company, and are now trading blows with the company's CEO Hans Pandeya.

Global Gaming Factory announced plans to acquire The Pirate Bay for 60 million Swedish kronor (US$8.25 million) in June. Whether the company has the money to go through with the deal remains to be seen: In July, Rosso decided to leave the company because he didn't think there were enough funds to complete the deal, and on Friday AktieTorget, the stock exchange where the company is listed, halted trading because it hadn't received sufficient information about the funding. On Monday it was still waiting, according to Peter Gönczi, head of market surveillance at the stock exchange.

Pandeya seems to take all this in his stride, and says the money to buy The Pirate Bay is there and that the deal will go through as planned. AktieTorget will get more information on Monday or on Tuesday, according to Pandeya. Bergman's departure was already planned for Thursday, he said.

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