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There is no Next Episode of Slings & Arrows planned.
Geoffrey Tennant's triumph with "Hamlet" has done nothing to solve the New Burbage Theater Festival's financial woes, and now he has no choice but to mount a new production of the most jinxed play in theatrical history‒"Macbeth." Ellen's boyfriend proposes to her but she declines.
Christmas comes to New Burbage and so do the interns, who are part of the new austerity program. Richard raises begging to new heights and hires Sanjay Ranier of the hip and edgy marketing firm Frog Hammer.
Geoffrey struggles with Oliver over staging. The director for "Romeo and Juliet" breaks her neck falling off the stage and the only one available to replace her is Darren Nichols. Ellen finds out she's being audited by Revenue Canada. Richard is shocked to find that Sanjay Rainier has launched a controversial campaign to re-brand the festival, causing regular subscribers to cancel.
After a fight with Ellen, Geoffrey moves into a storage room at the theater. His actors and Oliver refuse to accept Geoffrey's ideas for the play. Ellen has to get her financial records straight for the audit. Darren Nichols' staging of "Romeo and Juliet" doesn't sit well with his actors.
Ellen's audit is not going well. Sarah and Patrick, after an intense nighttime rehearsal, find themselves in bed together, although Patrick is gay. "Romeo and Juliet" is far from ready to open. Writer Lionel Train uses Anna as the inspiration for his new play. Richard comes close to a nervous breakdown when Sanjay is arrested by the RCMP and is found to be a con artist.
Richard is surprised to find that, against all odds, Sanjay's rebranding of New Burbage‒Youthquake‒is working and the box office is clogged with young people buying tickets to "Hamlet". Geoffrey, dealing with an actor who refuses to take direction, decides to make some last-minute changes to teach Henry Breedlove a lesson. All that's left to do is save "Romeo and Juliet" from total disaster; Geoffrey convinces Darren Nichols to rethink his concept and stage the play as the desperate love story that it is.