Mike Kirsch built his studio from nothing in the 1920s; now, four decades later, he is on the way out, the victim of a corporate takeover. We follow Kirsch as he exercises his waning authority on a temperamental movie star, browbeats his alcoholic wife, rebellious daughter and longtime yes-man associate Landers, and vainly attempts to push through an outdated pet movie project. Finally he is wrenched off his throne by a former assistant, who is now in cahoots with the conglomerate buying the studio. Kirsch is left alone to weep in his projection room as one of his past hits plays upon the screen.