On vacation in Los Angeles, Walter, the world’s biggest Muppet fan, and his friends Gary and Mary from Smalltown, USA, discover the nefarious plan of oilman Tex Richman to raze the Muppet Theater and drill for the oil. To stage The Greatest Muppet Telethon Ever and raise the $10-million needed to save the theater, Walter, Mary and Gary help Kermit the Frog reunite the Muppets, who have all gone their separate ways.