Often believed to be the inspiration for the sitcom WKRP in Cincinnati (1978), but in fact the pilot for that sitcom was filmed before this film's release.
Much of the plot of the movie is about the management of the station resisting the push to change to stations format to include more commercials than music. Tom Petty, who has a cameo in this film, fought his own battle against his record label over the album "Hard Promises". The album had been given the superstar price of $9.89, versus $8.98. Petty balked at the change, threatening to hold up the album's release. Much like the characters in this film, this stand won Petty a loyal fanbase standing behind him in support.
The advertisement that was presented by the men in military uniforms was an actual advertisement for the delayed entry program which offered new recruits the opportunity to "grow your hair one more time". This was an attempt to make the United States Army more hip in light of the changing culture shortly after the Vietnam War.
The first cinema release to feature a song by Queen ("We Will Rock You"). Since then, they have had one or more songs featured in 43 different films (up to 2005).
Many AM radio stations played an edited version of the movie's title song in which an overdubbed "A" was substituted for the "F" of FM.