In Saint Paul, Minnesota, the cherished live radio variety show A Prairie Home Companion is gearing up for what the audience remains blissfully unaware is its final performance. The new parent company of the radio station has set the Fitzgerald Theater, its beloved home, for demolition, appointing “the Axeman” to deliver the judgment on the show’s fate.

Amidst a series of musical performances, the cast members, under the keen watch of PI Guy Noir, reminisce and interact. Among them are the melodious Johnson Girls, featuring Yolanda, her sister Rhonda, and her daughter Lola (played by Lindsay Lohan). The cowboy duo, Dusty and Lefty, charmingly entertain the audience. The team also includes the expectant PA Molly (played by Maya Rudolph), along with the Stage Manager, Makeup Lady, and Sound Effects Man—who are portrayed by real Radio Acting Co. members Tim Russell, Sue Scott, and Tom Keith—alongside the show’s creator and host, Garrison Keillor, affectionately referred to as “GK.”

An intriguing twist arises with the appearance of a mystical figure called the “Dangerous Woman” (Virginia Madsen), later revealed to be Lois Peterson—an avid listener who tragically passed away in a car accident while tuned into a previous broadcast. Now returned in celestial form as the angel Asphodel, she brings solace to the cast and crew as they come to terms with the show’s conclusion and mourning the backstage death of the elderly Chuck Akers (L. Q. Jones).

The Axeman (Tommy Lee Jones) soon makes his presence felt, swiftly deeming the show too antiquated to continue airing. In an unexpected turn of events, Asphodel guides him out of the theater towards an untimely fate, yet the cancellation of the beloved show remains firm.

Years down the line, the former cast gathers once more at Mickey’s Diner with aspirations for a farewell tour. Their vibrant conversation halts as Asphodel makes an enchanting entrance into the diner, adding a hint of nostalgia to their reunion.