To fix that go to "C:\Program Files (x86)\Steam\SteamApps\common\Medieval II Total War" or wherever your medieval II file is, copy the medieval2.exe file and paste it into the same file while renaming it "kingdoms". that should let you get the game going. I'm not sure if everything works because I cant find any information on what the update did, so I'm not sure if it caused any other problems.
djashburnal
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