Decoding the Ending of Succession Season 4 Episode 5

Article Overview

Succession season 4 episode 5 sets up the future of Waystar Royco and the next generation of Roys as potential successors.

Kendall and Roman are faced with the task of negotiating the GoJo deal alongside Lukas Matsson. Additionally, they find themselves confronted with a challenging decision regarding Waystar Royco and ATN.

The death of Logan Roy continues to cause a rift among the Roy siblings. Kendall is driven by a desire for revenge, while Roman adamantly defends their father's legacy.

Succession's fourth season reaches its halfway point with episode 5, titled "Kill List," which sets the stage for an electrifying finale. In this crucial episode, the focus shifts to the next generation of the Roy family and their ability to lead Waystar Royco. While the previous episodes of season 4 have revolved around the impending GoJo deal, episode 3 threw a curveball when Logan Roy, the head of Waystar, passed away.

Episode 5 of season 4 takes place in Sweden, where Kendall and Roman find themselves at a crossroads, having to make decisions that will shape the future of Waystar Royco. Despite still grappling with the aftermath of their father's death, Kendall and Roman embark on a trip to negotiate the GoJo deal with Lukas Matsson. The Waystar team travels to the mountains to meet their GoJo counterparts, ostensibly for the purpose of assessing cultural compatibility. However, this meeting holds much more significance, as key characters and the fate of the company are set on momentous paths in this pivotal episode of Succession.

Matsson's New WayStar Offer In Succession The Season 4 Episode 5 Ending Explained

Matsson wants ATN

While GoJo's acquisition of Waystar Royco took a backseat in episodes 3 and 4, Succession season 4 episode 5 brings the deal back into focus. In this episode, the leaders of Waystar Royco's different divisions travel to Sweden to work on the deal following Logan's passing. Kendall and Roman take bold last-minute actions during this trip. Even though Lukas Matsson initially offers a lower price for Waystar Royco, he presents an intriguing proposition: Matsson intends to purchase both Waystar Royco and ATN, the news network that Logan had excluded from initial negotiations with GoJo.

Kendall and Roman are at odds over this deal, as Kendall wishes to retain ownership of ATN. Nevertheless, Waystar Royco, after deliberating with the board, opts to proceed with the deal. Throughout the episode, both Roy sons vacillate and endeavor to persuade Matsson to abandon the agreement. However, despite their efforts, the deal is ultimately finalized. Kendall and Roman are already anxious about selling a significant portion of Wayster to Matsson, but when he also insists on acquiring their father's cherished possession, ATN, they are caught off guard to the extent that they alter their plans.

Why Kendall & Roman's Plan To Tank The GoJo/WayStar Deal Failed

Mattson saw through their schemes

Kendall and Roman's plan to sabotage the GoJo/Waystar deal in Succession season 4 episode 5 fails. Despite being co-CEOs, they are obligated to secure a deal in accordance with their fiduciary duty to the board. If they jeopardize this duty due to personal issues, it could lead to an SEC violation and significant harm to the company. Additionally, senior leaders such as Gerri, Karl, Frank, and others were advocating for a deal and had little interest in working for a Waystar led by Kendall or Roman.

Although Kendall and Roman couldn't directly sabotage the deal, they tried to disrupt it in other ways. Kendall instructed Greg to leak information about conflicts between GoJo and Waystar employees discreetly. Meanwhile, Roman insisted on screening an unedited and unfinished disastrous film, aiming to convince Matsson that the company was in trouble. However, Matsson saw through these tactics, dismissing them as ineffective. Furthermore, when Matsson threatened to escalate the matter to the board, Roman boldly declared that he would derail the deal regardless, revealing his intention.

What Is Happening With Shiv & Matsson In Succession Season 4?

The start of their romantic chemistry

Despite not being the CEO of Waystar Royco, Shiv Roy has numerous encounters with Lukas Matsson, the CEO of GoJo. Their private meetings are filled with a distinct romantic undertone. Matsson seeks Shiv's advice regarding personal matters, and Shiv responds on behalf of her brothers and other Waystar employees. Feeling excluded from important deals, Shiv starts to feel disregarded once again within her family. Consequently, when she meets with Matsson late at night, she can't help but relish the attention he gives her. In a shocking revelation, Matsson confides in Shiv about his past relationship with his head of PR, as well as his disturbing habit of sending her frozen blocks of his blood.

Far from being taken aback, Shiv is intrigued and provides him with some advice on how to escape the public relations disaster he is rapidly approaching, particularly suggesting that he cease sending people his blood. Matsson expresses gratitude to Shiv, and a clear chemistry is evident between the two. Matsson even mentions to Shiv that she reminds him of her father, which, to Shiv or any of the Roy children, might as well mean "I love you." The sparks between Matsson and Shiv continue to ignite throughout the season before gradually fading, but it is in season 4 episode 5 when they come closest to acting upon their emotions.

How Logan Roy Is Still Dividing The Roy Siblings After His Death

Kendall is vindictive while Roman defends Logan

Although Logan Roy's death occurred two episodes ago, it continues to deeply impact the division among the Roy siblings. Kendall's actions in episode 4 demonstrate his escalating vendetta against Logan. On the other hand, Roman's defense of his father's character suggests that he is still unable to escape his father's overpowering presence, even in his absence. Additionally, when Matsson compares Shiv to her father, she is unwittingly transformed into a tool for him. Despite their individuality, all three siblings remain in the clutches of Logan's influence. Their reliance on their father's thoughts and opinions leaves them susceptible and unable to think independently.

Logan Roy’s Funeral Sets Up Season 4's Tensest Future​​​​​

In Succession season 4 episode 5, preparations for Logan Roy's funeral begin. While in Sweden, the Roy siblings receive a call from Connor, who informs them that Marcia wants Logan to be dressed in a kilt for the occasion. This seemingly insignificant and humorous incident reveals the internal conflicts within the family over Logan's funeral arrangements. It also indicates that Marcia is likely to remain a significant presence in their lives. Interestingly, it is Connor who expresses genuine concern about organizing the funeral appropriately, highlighting the relative immaturity of Logan's other children who are unable to confront the reality of the situation. This becomes more apparent as the season progresses.

Succession Power Rankings After Season 4, Episode 5's Ending

An early lead for Matsson

Succession season 4 episode 5 brought about significant changes in the show's power dynamics, but this was not the only instance where things were shaken up before the series finale.

8. Karl, the CFO of Waystar Royco, seemed to be in a secure position. However, episode 5 of season 4 revealed that he is now on the company's kill list, signaling that he will soon lose his job and power. Karl's position steadily declines throughout the remainder of the season, until the finale when Tom announces that he will be replacing the old-timers. Despite being fired, Karl, who is a seasoned player in the industry, will not be completely destroyed. He always has his golden parachute to rely on.

7. Despite lacking significant influence within Waystar, Greg's journey takes a turn when he is brought to Sweden and given the opportunity to interact with the Roy siblings. Slowly but surely, Greg manages to gain power and influence, only to almost lose it all in the finale. Luckily, Tom comes to his rescue, ensuring that their friendship allows Greg to retain a small amount of influence, even in the face of Tom's dominance.

6. Tom finds himself in a state of uncertainty, unsure of his standing with Matsson and the Roys, with neither prospect appearing favorable. As season 4 episode 5 comes to a close, it seems like a matter of time until Tom is formally ousted. However, everything changes dramatically by the end of season 4, as Tom is unexpectedly appointed as CEO, making him the second most influential individual in the series.

5. Gerri - Despite not being on the kill list, Gerri remains unharmed as Matsson holds her in high regard. Throughout the series, Gerri gradually attains a level of power that aligns with her ultimate position in the finale. When Roman dismisses her, her generous exit package ensures she lacks nothing, even though she is no longer associated with the company.

4. Shiv - Although Shiv fails to secure the CEO position, she manages to establish a close relationship with Lukas Matsson, granting her influence over the acquisitions. Shiv's power status undergoes constant fluctuations during the season, leaving her uncertain about her standing at times. By the end of the series, she appears to hold a position of power as the wife of Waystar's CEO. However, she also finds herself once again subordinate to another man, rendering her powerless.

3. Roman's position as one of Waystar Royco's CEOs grants him inherent power, but his lack of experience and emotional disposition diminish his influence compared to his older brother. Surprisingly, his attempt to anger Matsson leads to a significant buyout, representing the peak of Roman's success. However, he gradually declines in the power hierarchy and is ultimately removed from Waystar unceremoniously, left to drown his sorrows with solitary martinis.

2. Like Roman, Kendall holds the prestigious title of co-CEO at Waystar Royco. In episode 5, his impressive negotiation skills come to the forefront, solidifying his authority over the company's direction. Although Kendall unintentionally manages a substantial buyout, his reign at the top is short-lived. By the finale, he plummets to the lowest possible point, experiencing a downfall that surpasses all others.

1. As the CEO of GoJo, Lukas Matsson holds the reins, exerting significant influence over the ultimate outcome of the deal. Despite a momentary setback in Succession, Matsson quickly rises to the pinnacle of success. By the finale, the veracity of his numerical fabrications becomes inconsequential, as he undeniably stands as the most dominant character.

How Succession Season 4 Episode 5 Sets Up The Ending

The GoJo deal has been the center of attention in seasons 3 and 4 of Succession. Finally, seeing this storyline progress is crucial for the momentum of the narrative and a relief for viewers who were unsure if it would ever be addressed again. Matsson's reappearance in the series, after previously only communicating through phone calls, places him in a position to become a significant hurdle for the siblings. His impressive ability to remain composed and manipulate each of the Roys while in Sweden gives a glimpse of the manipulative tactics he will employ later in the season.

In season 4 episode 5 of Succession, cracks start to widen amongst the Roy siblings. Shiv realizes that her brothers have no intention of involving her in important decisions. Roman's disgust towards Kendall and his willingness to submit to Matsson become more evident. Kendall begins to doubt Roman's competence as co-CEO. Following the completion of the Gojo deal, Roman and Kendall are compelled to expedite their plan to make Waystar seem unappealing to Gojo's board, in order to prevent the sale from going through. Overall, season 4 episode 5 marks the start of the series' downfall.

Editor's P/S

In Succession season 4 episode 5, the intense power dynamics between the Roys and Matsson escalate, setting the stage for a gripping ending. As the episode unfolds, schemes unravel, alliances shift, and a budding romance brews amidst the chaos. The death of Logan Roy continues to cause a rift among the Roy siblings, with Kendall driven by a desire for revenge and Roman adamantly defending their father's legacy.

Kendall and Roman find themselves at a crossroads, having to make decisions that will shape the future of Waystar Royco. Despite still grappling with the aftermath of their father's death, they embark on a trip to negotiate the GoJo deal with Lukas Matsson. The episode takes place in Sweden, where the Waystar team travels to the mountains to meet their GoJo counterparts, ostensibly for the purpose of assessing cultural compatibility. However, this meeting holds much more significance, as key characters and the fate of the company are set on momentous paths.