Two of the leading ex-creators of Xbox, Seamus Blackley and Kevin Bachus, have announced that they are to launch their new company, called Capital Entertainment Group.

The pair, along with ex-Sierra Online J. Mark Hood, and former Dotted Line Entertainment founder Eugene Mauro, are attempting to raise $50 million in venture backing.

Blackley's plan is to allow upcoming developers who maybe wouldn't usually get their games even looked at by bigger publishers, on to the shelves, and in to the cd trays of gamers consoles, and giving small time developers the big break that they deserve.

CEG expect to break-even by reaching game sales of 250,000 units, and if this is reached within 12 months the developer of the game could net up to 15% of the net sales in royalties.

We'll bring more news of how things are going for the company, and their first confirmed titles in development, as soon as we hear any more.