At first, El tells Kothar-wa-Khasis to build a palace for Yam. Then there's a bunch of weird boring stuff about Yam being awesome or whatever. But Ba'al's not having it. Ba'al doesn't like Yam one bit! So he attacks Yam super hard! But Yam's pretty crazy powerful, so he kicks Ba'al's ass all over the place. Kothar-wa-Khasis is pals with Ba'al, so he makes two divine clubs for Ba'al to fight Yam with. With these clubs, Ba'al turns the tables and figuratively eats Yam for dinner!!
Ba'al and Anat pal around for a bit. He shows off his lightning skills to her. Then he complains that he doesn't have a house or a court or anything cool. Anat, Kothar-wa-Khasis, and some other gods work to convince El that Ba'al should get a palace, and he eventually does, though Kothar has to build it. Lame. Give a crafter-god a break, would you? In the end, Ba'al struts around like any good sky-god would.
Eventually Mot, the god of death, hears about this Palace. Mot is disgusted by the overworld gods and how they eat bread instead of flesh. Gross! He vows to eat Ba'al. Ba'al hides underground and offers some kid dressed as himself to Mot for the feast! Not very kingly of him, if you ask me. Everyone mourns, because they think Ba'al is dead! Anat goes to Mot and smacks him around, demanding that he return Ba'al back to the living, but surprise, Ba'al was alive all along! Eventually Mot recognizes Ba'al's undeniable sky-god status and declares him king. 'Cause come on. When has a death god ever ever ever been king?
Never, Mot. Never.