When Ray returns home to a hero's welcome, someone wants to make him look bad in front of his hometown, his childhood heartthrob and the Ghostbusters.

An unscrupulous film producer reacts with unusual enthusiasm when the Ghostbusters pursue a number of ghosts on his horror movie set. The ghosts help him in exchange for doing a film of their own… a movie that will feature the destruction of the Ghostbusters!

A news crew, trying to create a sensationalist story about the Ghostbusters, disrupts an experiment being conducted by Egon. Egon's soul is sucked into another dimension and a demon takes possession of his body!

Ghosts start coming out of televisions across New York, taking the form of famous TV characters! The Ghostbusters race against time to stop the spirits, while Slimer must save Peter's life.