A 35-chapter serial monster special that airs during breaks between the airing of classic monster movies. Gorman, the head of the fictitious AMC Horror Department, sends a pair of wiseguy interns off on a wild goose-chase to locate the missing midnight movie, "The Phantom Eye." On their journey, the interns split up to speed their search of the many rooms in the dark cellar. As they open each door, they enter and become characters in another kind of horror movie. Gorman, who spies on and communicates with them from the safety of his hosting chair, tells them if they can't find a way to survive the monster in each movie before it gets them, they'll be dead for real. Also, if they can't find the missing film by midnight, they'll be trapped in this cycle of celluloid horror forever. In their travels, the interns go through seven different horror genres.