Synopsis
Thanos has wiped out half the population of the universe (amongst other stuff). Adam Warlock has sent the heroes of Earth to beard him in his den (the space palace/throne he created for his love Death). Now Warlock and Silver Surfer watch the battle (in Infinity Gauntlet #4) from afar.
Surfer is eager to join the fray before Thanos kills them all but Adam says they must wait for the right moment. He tells Norrin Radd to rest for a while and meditate on what he must do so that he makes no mistake (and possibly actually puts him to sleep).
After a few panels Warlock wakes him because it's time. They both streak towards the battle site only to find the heroes all dead, which Adam says shouldn't have happened. Surfer was supposed to grab the Infinity Gauntlet off Thanos in the middle of the battle and then the de-powered Mad Titan would succumb to the overwhelming forces. But it's all gone wrong.
Thanos tosses Hulk aside and then turns to our duo. Warlock attacks him but the boasting self-proclaimed god grows to giant-size and grips Adam in 1 fist. Then he gets appropriate revenge for his previous fate at Warlock's hands (Marvel 2-In-1 Annual #2) by turning the hero to stone, and then he crumbles him to dust.
Now he shrinks down to normal to face Silver Surfer, whose attack he frustrates by turning his surfboard to manacles. He tells Norrin Radd he has a job for him. Thanos boasts that he is now master of all. He used to worship Death but now, as we see, she fawns at his feet. As the universe's new god he wants Norrin to record his deeds and words in his holy book. Mephisto interrupts, advising his master that letting the Surfer live might be a mistake. And he personally would like to see *his* most hated foe dead. But Thanos turns on him and kills *him*.
Then he admits there was *some* merit in Mephisto's words, and for safety's sake he removes SS's cosmic power, and then his shackles. Norrin is still in Silver Surfer form and tries to blast the Titan, but nothing happens.
Next Thanos creates a planet for the throne-palace to stand on. He calls it Necronos and from here he will rule the universe. And another snap of his fingers gives it a population of 1 billion. Surfer doesn't understand why this death-lover would do that. But Thanos explains. He once (Avengers Annual #7) tried to snuff out all the stars for Death, thus dooming all life. But now he realises that she wants *continual* deaths, so lives are necessary for her to be continually satisfied.
Now he takes Surfer to show him another building on Necropolis (but in the same style as the palace). They see lines of people being marched into the entranceways to their deaths. It is a conveyor belt of death for Death. And he tells Norrin that there are thousands of places like this on Necronos. And on all other worlds.