Logan Roy announces Waystar's pursuit of Pierce Global Media at a Hungarian hunting retreat, rehiring ousted ally Frank Vernon for his connection to PGM's Nan Pierce. When word leaks that the Pierces already know about the bid, Logan locks the room and stages "Boar on the Floor," a humiliation ritual targeting Karl, Tom, and Greg. Kendall exposes Roman as the back-channel to Naomi Pierce, Logan polls the room and finds zero support for the deal, and proceeds anyway. In parallel, Shiv fails to stop Connor's anti-tax campaign video and sleeps with an actor from Willa's play, while Greg is later cleared when a deceased board member is revealed as the biographer's true source.

This episode reframes Logan's leadership as performance rather than consensus-building, showing that loyalty rituals matter more to him than strategic agreement. You'll u ...