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Kevin Bachus and Seamus Blackley Form Company
May 10, 2002
By: Steve
Kevin Bachus and Seamus Blackley are considered the "Xbox Fathers."

Capital Entertainment Group, Inc. (CEG) launched today as the computer and video game industry's first independently funded production company.

Headed by industry executives Eugene Mauro, J. Mark Hood, Kevin Bachus, and Seamus Blackley, CEG will foster creativity in the game industry by introducing innovative and professional methods of production management while reducing the financial risk of game production to both developers and publishers. With more than 40 years of combined industry experience, CEG's principals plan to produce games that excite consumers and reward their company's publishing and development partners.

"This company was founded on a desire to create truly ground-breaking games -- the sort of original but risky projects that otherwise would never get made," said Eugene Mauro, CEO and founder of Capital Entertainment Group. "Beyond financing game development, CEG brings support and discipline to the production process, freeing both developers and publishers to focus on what they do best. With our unique business model and funding, CEG has the patience and resources to develop innovative hit titles, and generate robust returns for our partners and investors."

To fund the development of its first several games, CEG has partnered with several groups to raise a production fund of between $40 and $50 million. Durlacher, Ltd., a leading London-based investment house is advising CEG on its European fundraising.

CEG also announced that SEGA(R) of America, Inc. plans to be the company's first publishing partner. One of the industry's leading content publisher's, SEGA(R) has plans to market and distribute CEG's first two products. Details on the partnership will be announced at a later date.

"Capital Entertainment Group brings an innovative approach to the development, production and publishing processes," said Peter Moore, president and COO, SEGA of America, Inc. "This unique new model will allow developers and publishers to focus on their respective strengths, which will ultimately benefit the industry."

Note: Sega will be publishing for them..very interesting.
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