Hi Reader, here's what you need to know for May 27th in 3:09 minutes.

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Today's big stories

Amazon agreed to buy film studio MGM to beef up the content on its streaming service
A stock market crash is looking increasingly likely, and there are three strategies you could use to avoid getting caught in the fallout – Read Now
UK furniture retailer Made.com announced plans to list on the London Stock Exchange

Lights, Camera, Amazon

What’s Going On Here?

He is CEO, hear him roar: Amazon agreed on Wednesday to buy iconic movie studio Metro-Goldwyn-Mayer (MGM) for $8.5 billion.

What Does This Mean?

The spread of streaming service is putting pressure on Amazon to do more with Prime Video – a key draw for the company’s 200 million-plus paying members. And MGM – the film and TV production and distribution powerhouse behind James Bond and The Handmaid’s Tale – will give Amazon instant access to a wealth of classic (and rebootable) content for less than the $11 billion it spent on shows and movies in 2020.

Still, it’s not only the biggest deal the company’s done since its near $14 billion takeover of Whole Foods back in 2017: it’s one that Amazon seems to think is strategically significant enough to reportedly pay around $3 billion more than both Apple and Comcast were offering (tweet this).

Why Should I Care?

For markets: Fortune favors the Disney+ game plan.
Amazon’s investors will hope MGM breathes fresh life into its streaming service, helping the company hold on to existing customers and attract new ones. And the signs are encouraging: it seems to be following in the footsteps of Disney+, whose blockbuster back catalog is one of the main reasons for its success. That’s leaving Netflix – which has taken the contrasting approach of creating original content over acquiring the rights to existing media libraries – looking increasingly isolated.

The bigger picture: No time to buy?
Regulators on both sides of the Atlantic are also likely to be less than thrilled by Amazon’s antics. They’re already worried about the company’s anticompetitive dominance in several markets, with numerous probes ongoing. The latest – launched just this week – has seen Amazon taken to task for allegedly preventing third-party ecommerce sellers from offering their products for cheaper elsewhere, keeping prices unfairly high for consumers.

You might also like: What are Amazon’s shares really worth?

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2. Analyst Take

Is This 1929 All Over Again?

What’s Going On Here?

Look back at the 1929 Wall Street Crash, and you’ll see an uncanny amount of similarities between now and then.

The record-setting number of initial public offerings. The record-setting amounts of borrowed money. The record-setting stock valuations. The list goes on.

And while we can’t say if a stock market crash will happen anytime soon, or how much higher markets might grind before then, a correction is bound to happen.

When it does, you’ll be left with three potential exit strategies that you really should choose between sooner rather than later.

That’s today’s Insight: what those exit strategies are, and how to decide which one to take.

Read or listen to the Insight here

No more crypto FOMO

Every day it feels like there are more stories about “the future of digital currencies“.

And as you save, invest, and think about your financial future, you might feel like you’re missing out on something.

But you’re not too late, and Grayscale is here to help.

Grayscale is the world’s largest digital currency asset manager, operating 14 different cryptocurrency investment vehicles.

That includes the Grayscale Bitcoin Trust: an easy way to introduce bitcoin into your portfolio using your current brokerage account.

There’s more on that below, or get started straight away.

Learn More

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