Facebook Buys Oculus

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The Critics Agree has obtained an exclusive report via The Verge that the social media site Facebook has acquired the 2014 horror movie Oculus for $2 billion.

This is a strange acquisition for Facebook, particularly at a price point that the movie is unlikely to recoup*. Economics aside, this is the first movie that Facebook has ever bought. One has to wonder if Zuckerberg was spurred on by his seeing The Social Network go on to be a success without his ownership or endorsement. It’s clear now that Facebook and The Zuck are going to be major players in Hollywood.

*NOTE FROM NICK: I disagree with John’s analysis here. I think Oculus will easily earn more than $2 billion at the box office. With DVD and Blu-Ray sales over the next two decades, this deal will be pure profit for Facebook.

Facebook Buys Oculus