plot :
Walter lives with his human brother Gary in Smalltown.The pair are avid fans of The Muppets, having watched The Muppet Show throughout their youth. Now adults, Gary plans a vacation to Los Angeles with his girlfriend, Mary, to celebrate their tenth anniversary, inviting Walter along so he can tour the Muppet Studios. Mary feels that Gary's devotion to Walter is detracting from their relationship.
Arriving in Los Angeles, the three visit the abandoned Muppet Studios. During the tour, Walter sneaks into Kermit the Frog's office and discovers Statler and Waldorfselling the theater to an oil magnate named Tex Richman and his henchmen Bobo the Bear and Uncle Deadly. Waldorf explains that if the Muppets can raise $10 million by the time the original contract expires, they can repurchase the theater. After Statler and Waldorf leave the office, Walter overhears Richman revealing his plans to destroy the Muppet Theater and drill for oil underneath. Walter later warns Gary and Mary about Richman's intentions.
The group find Kermit the Frog informing him that he must organize a telethon to raise the money, which appears initially difficult as the Muppets have gone their separate ways since The Muppet Show ended its run. After Walter convinces him to try, Kermit and the three set off to reunite the group, traveling in a car being driven by '80s Robot. Kermit dissuades Fozzie Bear from continuing to perform in Reno with the Moopets, a group of uncouth Muppet impersonators. Meanwhile, Gonzo has become a plumbing magnate, and despite his initial objection, decides to destroy his business and join them. Animal is recovered from a celebrity anger-management clinic, but is warned by his sponsor Jack Black to avoid drums. The other primary Muppets are located and rejoin through a montage. Later in Paris, the group finds Miss Piggy working as an editor for "plus-sized" fashion at Vogue Paris. Unable to convince Miss Piggy to return, the group replaces her with Moopet counterpart Miss Poogy.
The Muppets pitch their telethon idea to several television networks, but are rejected. Due to the sudden cancellation of Punch Teacher, CDE executive Veronica gives the Muppets a two-hour slot in the network's schedule on the condition that they find a celebrity guest. The Muppets refurbish the theater, but their first rehearsal is unsuccessful and Kermit is unable to contract a celebrity guest. Miss Piggy returns, forces Poogy out, and selects Pepe the King Prawnas her partner after refusing to work with Kermit. Kermit persuades Walter to agree to "find his talent" and perform in the telethon. Meanwhile, Mary goes sightseeing alone.
Declining Kermit's plea to return their studio, Richman reveals that the Muppets will also lose their trademark names, which he plans to entitle to the Moopets. Unsuccessful, Kermit returns home and Miss Piggy enlists the remaining Muppets to kidnap Black as a celebrity guest. Meanwhile, Mary leaves for Smalltown, after Gary forgets to plan his anniversary dinner. Gary realizes that he must improve his relationship with Mary and follows her back home to reconcile, while Walter discovers he was meant to be join the Muppets. Meanwhile, the telethon begins and gradually attracts a large audience, with the Muppets raising donations with support from celebrity callers and Black serving as the unwilling, yet hilarious host. During the show, Richman cuts the theater's power supply, however Gary and Mary, having returned, manage to restore it. Richman then attempts to destroy the theater's television transmitter, but a regretful Uncle Deadly stops Richman. Kermit and Miss Piggy finally conciliate and the Muppets perform "Rainbow Connection" as their final act.
However, the telethon runs short as the $10 million has yet to be collected. Having found his talent, Walter gathers the courage to perform a whistling act, which is unanimously praised by the audience. Richman, refusing to lose, disables the telephone lines and evicts the Muppets from the theater, after the latter fall short of their monetary goal. Kermit gathers the group in the lobby and delivers a speech, suggesting that they will restart their career together as a family. Exiting the theater, the Muppets are greeted by a vast gathering of supporters on Hollywood Boulevard. With Gary's encouragement, Walter greets the crowd and is accepted by the Muppets as a new member. At the end of the film, Gary proposes to Mary, Richman gives the Muppet Theater and rights back to the Muppets after suffering a head injury, and Kermit and Miss Piggy have time in private.
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