Seamus Blackley, formerly a major figure in the Microsoft Xbox project, is forming the Capital Entertainment Group with three other game industry veterans, News.com is reporting. The group will fund and supervise the development of games and then sell the finished products to publishers, much like a production company in the film industry. The company hopes to incubate "exciting, innovative ideas," co-founder Kevin Bachus - another member of the original Xbox team - told News.com. Capital will start out with a production fund of $40 million to $50 million, according to Bachus. British investment bank Durlacher is acting as a financial advisor, and not as an out-and-out investor as previously reported. The group's first deal will be to deliver two games to Sega, who publish in Japan and North America. Related Feature - Seamus Blackley speaks
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