In 1980s England, a rivalry between two powerful men finally comes to a head.

Declan feels the pressure to deliver a new hit show for Tony and his company, Corinium, with producer Cameron on hand to help despite their fractious relationship.

It is Christmas time and everyone is celebrating except Declan, who worries about Maud's extravagant party plans for their son's twenty-first birthday on New Year's Eve.

Keen to punish Rupert, Declan prepares to interview and obliterate him live on television. Meanwhile, Tony invites Freddie to his prestigious pheasant shoot.

It is a busy week at Corinium Studios. Preparations are underway for the first beauty pageant and a historic interview with Prime Minister Margaret Thatcher.

Cameron attends an awards ceremony in Spain alone, and is surprised to bump into Rupert staying at the same hotel.

When Tony learns that Rupert, Declan, and Freddie have formed Venturer to challenge his bid for the television franchise, he is furious.

Paranoid, Tony demands loyalty, but can he trust those closest to him?