Thirty-five years following The Adventures of Rocky and Bullwinkle and Friends's cancellation in 1964, Rocky the Flying Squirrel and Bullwinkle J. Moose have been living off the finances of their reruns on TV. Their home, Frostbite Falls, has been destroyed by deforestation, Rocky has lost his ability to fly and the show's unseen Narrator now lives with his mother, spending his time narrating his own mundane life. Meanwhile, their archenemies Fearless Leader, Boris Badenov and Natasha Fatale have lost power in Pottsylvania following the end of the Cold War. However, the three escape to a real-world Hollywood film studio, where they trick executive Minnie Mogul into signing a contract giving her rights to the show, transforming the villains from their two-dimensional Traditional animation forms into live-action characters.