STX Entertainment, a Hollywood film studio and distributor with backings from private equity investors and Tencent Holdings Ltd., is expanding into virtual reality (VR) with the acquisition of U.S. VR content producer, Surreal.
Financial details of the acquisition were not disclosed.
After the acquisition, Surreal will become STX Entertainment's VR division to continue developing VR films, TV series, branded programs and other immersive projects based on STX properties.
"Virtual reality is exploding, and STX sees a unique opportunity to create one-of-a-kind content by pairing the world's biggest stars and storytellers with best-in-class VR capabilities," STX president Sophie Watts said in a statement.
Founded in 2015, Surreal focuses on producing immersive 360-degree videos, having been involved in projects with Snoop Dogg, G...
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