In this issue we get to see a team up between Nite Owl and Rorschach. Feeling a need to do something after Laurie was taken from them last issue, they follow their only lead in Rorschach's "cape killer" suspicion. That being Ozymandias' assassination attempt.
Through the course of the investigation they learn that Hollis Mason (The Original Nite Owl) was killed. They also discover that the person behind the murder of the Comedian, and Dr. Manhattans exile from Earth, was the worlds most dangerous man. Ozymandias himself.