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Howard Beale (Peter Finch) is an ageing TV anchorman for UBS who is fired, effective in two weeks, after his ratings have been steadily deteriorating. He reacts to this by sensationally announcing on live television his intention to commit suicide on air. In doing so, Beale becomes a major TV icon and one of the most valuable assets to the Communications Corporation of America (CCA), the company that is gradually taking control of UBS. As a result he is given his own show as ‘the mad prophet of the air-waves’. He appears live on television every week-day evening to tell the real truth to the people of America. The programme is a huge success but Beale uses his power to make startling revelations about CCA, leaving the company executives with a serious problem.

Tough L.A. private eye Mike Hammer gives a ride to Christina, a frightened young woman he finds running along the road one night. His car is run off the road by unseen thugs. Hammer is knocked out and Christina is tortured in an unsuccessful attempt to get information from her. They are put back into Hammer’s car which then is forced off a cliff. Hammer wakes up in the hospital. Velda, his trusty secretary, informs him that Christina is dead. Pat Chambers, Mike’s policeman friend, tells him to stay off the case, but Mike thinks it might be a big story—meaning big money for him—because the FBI is interested. He, Velda, and Nick, his garage mechanic friend, start investigating in hopes of finding out why Christina was killed.

Frank Galvin is a down-on-his luck lawyer, reduced to drinking and ambulance chasing. Former associate Mickey Morrissey reminds him of his obligations in a medical malpractice suit that he himself served to Galvin on a silver platter: all parties willing to settle out of court. Blundering his way through the preliminaries, he suddenly realizes that perhaps after all the case should go to court: to punish the guilty, to get a decent settlement for his clients, and to restore his standing as a lawyer.