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I don't know. I still think Fangus is going ahead with Majesco publishing, and someone (probably obscure) programming. Surely he would've dispelled the rumours the magazine article and scan made? Unless they weren't rumours.
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From the G4 interview, it seemed like a new game was the last thing on his mind. He didn't seem to have any idea what their videogame plans were. I think TV and film are their current goals.