Capital Entertainment Group Reveals Plans

The wraps are off of a new start-up, Capital Entertainment Group, launched by Kevin Bachus, J. Mark Hood, and Eugene Mauro -- and most recently joined by Seamus Blackley.
CEG's goal is to help developers get the financial and production resources necessary to bring their games to market, which includes finding publishers for games. CEG in the process of raising $50 million in venture backing, and plans to take a percentage of game sales from projects it works on. CEG operates Capital Entertainment Group, LLC, a fund for private investors to support its development activities. Investors can specify which game they wish to fund, and then bear the risks and rewards associated with that game's performance once it launches. Mauro, who founded Dotted Line Entertainment, will be the CEO of Capital Entertainment Group. Blackley joins as VP of development, after recently leaving his high profile position at Xbox. Bachus, who worked at Microsoft and Wild Tangent, is the VP of publishing. Hood, a former Sierra Online senior VP, takes the role of VP of production at Capital Entertainment Group. CEG said its first titles are targeted for the 2003 holiday season, and a deal has already been made with Sega for two games. It will support games for the PC and across all console platforms, but will stay away from games for cell phones and PDA, and won't handle MMOGs.

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