Lionsgate Sells YouTube Red Its First Big-Budget Show

Subscription-streaming service YouTube Red has acquired its first big-budget, Hollywood-produced television drama based on “Step Up,” the Lionsgate-controlled dance movie franchise. The show will cost several million dollars per episode to make and one of its executive producers will be actor Channing Tatum.

AppliedVR Signs Therapeutic Virtual Reality Partnership with Cedars-Sinai

AppliedVR, which develops therapeutic virtual reality content, has signed a deal with Cedars-Sinai Medical Center, according to a press release. The Century City-based company’s content is used to help transport a patient using virtual reality from a medical environment to a peaceful scenic place so as to relax, manage stress, and anxiety.

Virgin Galactic Begins $300M Fundraise

Rocket manufacturer Virgin Galactic is in the process of raising $300 million from its current shareholders, reports Sky News. The capital is aimed at accelerating the development of Virgin Galactic’s commercial satellite operations and expanding production capacity at the company’s Long Beach headquarters.

Virgin Galactic to Form Partnership with Satellite Firm

Satellite communications firm Sky and Space Global of London said it will announce a strategic partnership with Virgin Galactic on Monday, reports Sky News. Pending the announcement, trading of shares of Sky and Space Global have been halted.