I'm looking for an American movie from the 1970s - probably mid to late. It's set at a TV news-station (or possibly, the news-section of a TV-station) in San Francisco San FranciscoDiego. It's about the conflict between a disillusioned male news-anchor and his relatively new boss... the anchor wants to report news, the boss wants to sell sensation. There is also a new female anchor, just starting to earn her spurs. The back-drop is that police has found some porn-pictures of a young teenaged girl.
The female-anchor reports about the police raiding the millionaire porn-ring leader, one Juan R. Cabrio at his residence at Point Luma (probably not spelling this right...); when the people in the reception room start laughing. The boss asks "what so funny?" and the news-anchor replies: "They recognize the name". "Huh?" "Juan R. Cabrio - the millionaire porn-ring leader... They know him better as the founder of San Francisco San FranciscoDiego... they picnic around his monument, out at Point Luma!"
So, does this seems familiar to anybody?
Edit: Corrected "San Francisco" to "San Diego" in title and body, in case anybody goes searching. Left other of my errors as they were. Wlse look at Walt
's excellent answer.