Xbox Co-Creators' CEG 'Middleman' Venture Fails

Thanks to the San Jose Mercury News for their story revealing that the 'gaming middleman' venture Capital Entertainment Group has closed its doors. The article explains that CEG's founders "...included Seamus Blackley [now heading to CAA as a games agent] and Kevin Bachus, who were part of the team that created the Xbox at Microsoft and persuaded Bill Gates to spend billions in a bid to unseat Sony as the dominant player in video games." The founders started CEG "...to solve growing rifts between game developers and publishers. CEG planned to develop high-quality games with established developers. It would then take those games and pitch them to game publishers and share in the cut if the games were successful." But funding wasn't forthcoming, since "...in the end the VCs didn't want to try their luck in risky hit-or-miss games." Will there ever be room in the market for an "independent production company" like CEG?

Comments

So God V2.0 failed?

[Anonymous Coward]

Go figure - Who would have thought that such a brilliant idea (Only make hit games!) would fail?