Becky Fuller (RACHEL McADAMS) is a young woman who works as a producer for Good Morning, New Jersey, a local morning TV program where she's expecting a big promotion. Instead, she ends up laid off and must hit the streets to find a new job. She eventually convinces IBS big wig Jerry Barnes (JEFF GOLDBLUM) that she'd be perfect for the executive producer position for his network's morning show, Daybreak.
The only problem is the show is in the bottom of the ratings cellar and is both underfunded and understaffed, bits of information she also learns from her immediate subordinate and senior producer, Lenny (JOHN PANKOW). She certainly doesn't get any support from veteran Daybreak co-anchor Colleen Peck (DIANE KEATON) who expects Becky will be gone shortly, just like all of her predecessors.
But the young producer perseveres and decides to make some big changes, including firing Colleen's co-host and then trying to convince legendary investigative reporter Mike Pomeroy (HARRISON FORD) to fill the slot. The only problem is he's semi-retired and living high off his remaining network contract and is considered the third worst person in the world by fellow IBS employee, Adam Bennett (PATRICK WILSON).
Even so, Becky manages to coerce Mike into joining the show, although he adamantly refuses to do anything but hard news coverage. With the ratings still low, Becky ends up with limited time to turn things around, all while she falls for Adam but can't stop focusing so much on her work to allow something to come of that.