Kendall and Roman travel to Norway as interim co-CEOs to finalize Logan's sale of Waystar to tech CEO Lukas Matsson, but Matsson now wants ATN included in the deal at 187 per share. The brothers privately decide to sabotage the acquisition to retain control, using leaked press and revealing studio problems as tactics, but Roman's grief-fueled breakdown during negotiations—triggered by seeing a photo of Logan's prepared body—leads him to explosively reject Matsson's offer. Matsson responds by bypassing the brothers entirely, calling Frank directly with a raised offer of 192 per share that makes the sale more inevitable, while Shiv separately establishes rapport with Matsson by advising him on a personal scandal.

This episode reveals how the Roy siblings' competing desires for power versus payout create unintended consequences that reshape their father's legacy deal. The brothers' failed sabotage attempt accidentally strengthens Matsson's position while Shiv's independent relationship-building with the buyer positions her for influence they don't know about, demonstrating how grief and tactical miscalculations are fundamentally altering the power dynamics of the acquisition and the family's future control over their media empire.

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YouTube: https://youtube.com/watch?v=LvJPJFHJ7nI

Apple Podcasts: https://podcasts.apple.com/us/podcast/succession-s04e05-kill-list/id1874406661?i=1000756209997

Spotify: https://open.spotify.com/episode/4vvMdom7Mo4dCj6mt2eXfg

Website: https://explainedpodcasts.com

IMDb: https://www.imdb.com/title/tt7660850/

TVDB: https://thetvdb.com/series/succession

TMDB: https://www.themoviedb.org/tv/76331