The film kicks off with a humorous montage featuring various news anchors blundering on air, from accidental cursing to unfortunate mishaps—one of which involves a hapless reporter getting pounced on by cats while covering a pet store segment. This chaotic scenario centers around Meghan Miles, portrayed by Elizabeth Banks, who aspires to be a respected anchorwoman. Her day takes a turn when her mother calls her to wish her luck before her interview, where Meghan tries hard to present herself as the perfect candidate.
As tensions rise, Meghan embarks on a field report about a major traffic jam dubbed "Carpocalypse Now", relying on Kevin Nealon, as Chopper Steve, who spends more time texting than reporting. After a heart-wrenching day, Meghan's friends, Gillian Jacobs as Rose and Sarah Wright, surprise her at home, eager to toast to her probable promotion. However, Meghan lies despondently on her couch, holding a picture of the dog her ex-boyfriend, Kyle (Oliver Hudson), took when he left her. To make matters worse, her dreams are dashed when her producer, Willie Garson, informs her that another woman, Wendy Chang, has snagged the anchor position.
Devastated, Meghan's friends encourage her to let loose and hit the town, insisting she borrow a dress from Denise to spice up her appearance. At a club, Meghan gets intoxicated and meets a bartender named Gordon (James Marsden). They return to his apartment where they share drinks, food, and ultimately, a night together. However, the morning light brings more challenges; a voicemail reveals her opportunity for the anchor position has reopened after scandalous photos of Wendy have come to light.
In a frantic hurry, Meghan finds her car being towed and tries to catch it, but fate throws more hurdles in her way, including a misadventure with an off-duty cab driver who mistakenly thinks she’s a stripper. This leads her down a wild road where she faces increasingly absurd situations, including run-ins with police officers (Ethan Suplee as Dave and Bill Burr as Walter) who suspect her of being a prostitute.
After dodging a dealer named Scrilla and experiencing a harrowing escape from a crack house, Meghan finds herself amidst a chaotic city scene where she tries to gather help. Desperate for assistance, she even attempts to appeal to a rabbi but only ends up fleeing again. While all this occurs, Gordon races to find her, seeking help from her friends using the GPS from her car keys.
Amidst the tension, Meghan's plight escalates as she faces challenges trying to obtain her belongings, ultimately resulting in a slow and comedic escape plan that sees her barely escaping arrest and even engaging in a makeshift identity as a masseuse to avoid the cab driver. At long last, her mischievous journey brings her to the impound lot where she discovers her commitment to securing her car has left her stuck with no means to pay.
In a surprising twist, Gordon locates her, and they make their getaway just in time. Once Meghan reaches the news station, she’s faced with her own unexpected headline, having become a viral sensation now dubbed the "Hooker Hoodlum". Instead of adhering to the typical script, she decides to own her situation on live television, candidly revealing the truth of her escapades while calling out her former boyfriend Kyle for his poor treatment of her.
By addressing the city’s judgmental perceptions and praising her loyal friends, Meghan ends her segment hoping for a chance to reclaim her career while establishing a potential new reality show from the experience. The film concludes on a hopeful note, with Meghan and Gordon strolling off together, hinting at a romantic future as they navigate the unpredictability of life and love.
