Meta: I'm still learning new things about the 70s and 80s.
The conceit of the show (pilot episode) was that the station had been a staid and lame radio station (out of Cincinnati) that suddenly came under new ownership (I think?). The staff now get to build a new (and cooler) brand for the station and there are no longer any guardrails.
There's a scene where Herb is talking his family up as he attempts to casually throw a football with his kid. It quickly becomes obvious Herb has never played with his son, who makes no attempt to catch the ball and just keeps getting hit with it.
Ooh, it's even better than I remembered-- Herb steals his son's stuffed animal from him to get him to play catch:
> Other stations have adopted similar branding in reference to the series. In 1986, a Salt Lake City FM station (now KUMT) changed its calls letters to KRPN, and branded itself as WKRP, using the similarity of the spoken letter "N" to the word "in" for a sound-alike station identification: "W KRPN Salt Lake City".