After a restructuring of a television company, an elderly narcissistic newscaster is forced to become a child TV host to maintain his future employment.
This premise sounds promising for a comedy but I think the irony of old guy needs to entertain young people is lost and the comic potential of the basic premise is reduced.
Perhaps make him a heavily cynical old guy who must team up with a pop culture icon for a new show then the possibilities for story, irony and comedy increase.
Lastly what is his goal? Now that the station has been restructured what will he do or want to achieve?
The stakes seam pretty low, is there more at stake for the MC than his employment?
Hope this helps.