Apart from sporting the most powerful newsroom dynamics since His Girl Friday, this film is a lasting account of the delicate balance between intelligence, power, and sexual attraction, and that manages to gently skewer the news industry at the same time.
It is a simple yet intelligent romantic comedy, held up by crisp witty dialogue and topnotch performances by Holly Hunter and William Hurt both at the top of their game. Albert Brooks was nominated for an Oscar for his portrayal of a TV reporter who wants to be an anchor (even Jack Nicholson and John Cusack in little know roles turn in a surprise guest performance).
One could speculate that this movie didn't walk away with any statuettes depite being nominated in several Oscar categories -- and this is my main gripe with the movie -- because the very interesting build-up did not really culminate into a very satisfying ending. Sort of leaves me wanting for something more everytime.
Nevertless, the bustle of the entire movie is definitely worth a ride, if only due to its convincing examination of the atavistic social obsession with physical appearance and its ultimate triumph over intellect as a valued human attribute (personified by the meteoric career success of William Hurt's character in contrast to Brookes relative decline). I have seen this movie about 11 times now, and I can still take it -- that is saying something.