The film tells the story of a young comedy writer and stars Peter O'Toole, Mark Linn-Baker, Jessica Harper, and Joseph Bologna. O'Toole was nominated for the Academy Award for Best Actor.

Benjy Stone is the junior writer on the top rated variety/comedy show, in the mid 50s (the early years). It's a new medium and the rules were not fully established. Alan Swann, an Erol Flynn type actor with a drinking problem is to be that week's guest star. When King Kaiser, the headliner, wants to throw Swann off the show, Benjy makes a pitch to save his childhood hero, and is made Swann's babysitter. On top of this, a union boss doesn't care for Kaiser's parody of him and has plans to stop the show.