A young and devoted morning television producer is hired as an executive producer on a long-running morning show at a once-prominent but currently failing station in New York City. Eager to keep the show on air, she recruits a former news journalist and anchor who disapproves of co-hosting a show that does not deal with real news stories.

Set during the Cold War, the Soviets—led by sword-wielding Irina Spalko—are in search of a crystal skull which has supernatural powers related to a mystical Lost City of Gold. Indy is coerced to head to Peru at the behest of a young man whose friend—and Indy's colleague—Professor Oxley has been captured for his knowledge of the skull's whereabouts.