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Byline: Sharon Pian Chan
May 10--In an industry that now produces mostly low-risk, formulaic games with names like "Wrestling Meltdown XXIII," a couple of key creators of Xbox have started their own production company, Capital Entertainment Group, to make big bets on innovative games.
The system is broken, say Seamus Blackley, former Xbox evangelist, and Kevin Bachus, who managed Xbox developer support. They and two other game-industry veterans -- Mark Hood, the former head of Sierra Studios, and Gene Mauro, a former developer representative -- are the founders of the new Seattle-based business, called CEG for short.
Disclosure of plans for the business comes just two weeks after Blackley said he was leaving…