STX Entertainment is making a move into virtual reality with its purchase of Surreal Inc., producer and distributor of immersive media content. “Under terms of the deal, Surreal will operate as a division of STX, led by co-founders Rick Rey and Andy Vick, who now will serve as co-presidents of VR and Immersive Entertainment under the new STX Surreal label,” reports Deadline. “Rey and Vick are among those at the forefront of VR, including live-action 360-degree video and interactive VR content.” STX president Sophie Watts will oversee the new division. STX recently became strategic equity partners with China’s Tencent Holdings Limited and Hong Kong telecom PCCW. Continue reading STX Entertainment Acquires Surreal, Launches New Division

The tech world is awash in virtual reality startups, each of them focusing on developing different aspects of the new medium. Oculus VR, which was purchased by Facebook last year for $2 billion, has made great strides in several areas, including its virtual reality head-mounted display Oculus Rift, but is also working on Oculus Cinema, a consumer-facing movie-watching app. Other companies are creating avatars, virtual worlds and virtual games, and a camera that allows viewers to go on tours of homes for sale and hotel rooms. Continue reading Virtual Reality Startups Define Diverse Facets of New Medium