The Overreach committee holds Venom, suffering from amnesia after their last knockdown drag-out with Spider-Man, prisoner.
Venom uses the news crew (Trish Tilby of course) to spill the overreach committee's beans as Spider-Man uses whatever means possible to get downtown. Suddenly a new super hero, Stentor, master of amplification and modulation (I'm not making this up, honest Native American), appears. Venom mauls Stentor and agent Smith's robot tanks (I'm assuming this, since I don't think all the fires and explosions were caused by a super combustible parade float). Spider-Man finally arrives, saves Stentor, trades blows with Venom, saves some people then has a little chat with secret agent Smith.
Oh no, no, no!
Very poor. Two webs.