A fighting game spin-off to both Persona 3 and Persona 4, set immediately after Persona 4, featuring characters from both games.

The story starts 2 months after the events of Persona 4 and roughly 2 years after Persona 3 FES' The Answer. At the start of Golden Week, Narukami Yui returns to Yasoinaba and reunites with Dojima, Nanako and his friends. But soon Chie hears a rumor that the Midnight Channel is airing again and tells Yosuke and Yukiko. The three of them and Yu (coincidentally) see it. At the same time, Rise, Kanji and Teddie go missing and Naoto is busy on a mission. The following day, they head into the TV world and find themselves stuck in a tournament held at their high school where they must fight each other to advance, but during the tournament they see a mysterious girl who claims to be their student council president as well as three Persona-users they've never seen before.

[From Megami Tensei Wiki]