"Print the Legend."
"Print the Legend."

1. Facebook Buys Oculus VR: ICYMI, big news for Facebook. The social network has acquired Oculus VR, Inc., the immersive virtual reality technology company, for a total of approximately $2 billion with the potential for an addition $300 million based on hitting certain milestones, the two companies announced yesterday. Until now, virtual reality technology has generally been limited to gaming, but Facebook said it had plans to expand the technology into communications, media and entertainment and other areas.

2. Web Series: Good news for narrative web series creators, For the first time ever, IFP will be accepting applications for narrative web series at all stages of development, production, and post-production. Read more about the news here.

3. Creative District: Creative District, a new online professional network for filmmakers and other creative professionals to connect and potentially collaborate, display, and develop projects, launches today. Backed by Technicolor, the venture provides a networking experience similar to LinkedIn but tailored for creatives, in which professional relationships can be established and cultivated online. Users can access the network to hire a team, gain feedback on a project, or find the right tools or location for a shoot. Read more about Creative District here.

4. Print the Legend: Netflix has acquired the rights to "Print The Legend," the documentary about 3D printing that was the the 2014 SXSW Film Festival recipient of the Special Jury Recognition Award for Editing & Storytelling in the Documentary Feature Competition. Netflix will premiere exclusively on Netflix in this year and it will be available to stream in all territories where Netflix is available. Read more about the news here.

5. Streaming Content: Over at The New York Times, Personal Tech columnist Farhad Manjoo vents about the limitations of movie streaming services and bemoans the fact that Popcorn Time, the movie pirating service that recently started up and then quickly shut down, was too good to be true. "Instead of a single comprehensive service, the future of digital TV and movies is destined to be fragmented across several services, at least for the next few years. We’ll all face a complex decision tree when choosing what to watch, and we’ll have to settle for something less than ideal," Manjoo writes. Read his full story here.