Contains spoilers for this episode and earlier episodes.
Logan sends Kendall and Roman to assess Vaulter while confronting the continuing takeover threat. Lawrence obstructs Kendall with paperwork, but Roman learns from employees that readership is falling and unionization is planned. Kendall argues for keeping the company; Logan chooses Roman’s recommendation and orders its closure. Meanwhile, Shiv weighs a future role with Gil Eavis against Logan’s promised succession, which now includes years of preparation. Tom begins running ATN news, clashing with Cyd over its audience and asking Greg to find savings. Greg suggests digitization, which Tom interprets as a way to cut staff.
Kendall falsely reassures Vaulter employees that he can save their jobs, then secretly installs wireless blockers and returns to dismiss everyone. When Lawrence demands an explanation, Kendall says he is following his father’s orders. He later hosts a party in an apartment gifted to Greg, then shoplifts from a convenience store. Shiv tells Tom about Logan’s succession offer, raising questions about the future they had imagined for Tom. Roman and Tabitha mock him over dinner, and Tom privately warns Shiv that Logan may be manipulating her. Shiv provokes Eavis into firing her and tells Logan she is ready to join Waystar. Logan brings Kendall beside him to manage the proxy fight.