Hollywood horror screenwriter Buzz Hunkle (Richard Belzer) is assigned by producer Leo Tandoski (Shelley Berman) to work with a co-writer, Vicki, on a new werewolf movie. The outline is about a movie studio CEO named Billy who is a werewolf, and about a heroic producer named Leo who unmasks him. Studio CEO Billy Mariner arrives in Buzz's office and announces he's financing picture. Buzz and Vicki fight over the script. That night, they hear screams and wolf howls out on the studio back lot. They discover Leo's dead body and a werewolf running amok. But Leo warned them that there's more to the "movie" outline than there seems, and Buzz has to unravel the mystery.