The setting is 1953, during the early days of television broadcast journalism. Edward R. Murrow (David Strathairn) along with his news team, producer Fred Friendly (George Clooney) and reporter Joseph Wershba (Robert Downey Jr.) learn of U.S. Air Force officer Milo Radulovich, who is being forcibly discharged because of family members being known communists and his refusal to denounce them.
Interest is piqued when it is found that the compilation of charges at Radulovich's hearing was in a sealed envelope and nobody saw them. Murrow presents the story to CBS News' director, Sig Mickelson (Jeff Daniels), who warns Murrow that the story will bring serious accusations and repercussions to CBS and their sponsors, some of whom have government contracts. He reluctantly allows the story to air, which gains positive responses from the public. Murrow also tries to ease the worries of his colleague, Don Hollenbeck (Ray Wise), who is struggling with both the strain of his recent divorce and attacks from newspaper writer Jack O'Brian, who is accusing him of being biased in his news reporting and being a "pinko".