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Conspiracy clears $2.6 million debt, signs new title

California-based publisher and developer Conspiracy Entertainment has reached an agreement with German firm SWING! Media AG which will eliminate over $2.6 million worth of debt from its balance sheet.

California-based publisher and developer Conspiracy Entertainment has reached an agreement with German firm SWING! Media AG which will eliminate over $2.6 million worth of debt from its balance sheet.

Details of the deal were not announced, but one aspect of it will see Conspiracy taking over the US and European publishing rights for a new game title which is set to be announced in the near future.

"We have spent the last 12 months negotiating to have this debt removed from our balance sheet," explained Conspiracy president and CEO Sirius Ahmadi, "and were also able to obtain rights to a game that we spent considerable time, money and effort in developing. This is a huge deal for Conspiracy."

Further information about the deal is expected to be announced in the company's forthcoming quarterly report. For now, according to CFO Keith Tanaka, the removal of the debt leaves the company "poised and ready to concentrate on generating revenues for the remainder of 2004."

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Rob Fahey: Rob Fahey is a former editor of GamesIndustry.biz who spent several years living in Japan and probably still has a mint condition Dreamcast Samba de Amigo set.