Info via SCTVguide.ca:
The inaugural show introduces several major characters, including Johnny LaRue, Earl Camembert, Floyd Robertson and Moe Green. It features a somewhat tenuous wraparound concept involving LaRue - according to Dave Thomas' book, the running time for this episode ran well past 30 minutes, much of the linking material for the wraparound being cut to achieve the final running time. The show also introduces four programs that would feature frequently throughout the show's run: Sunrise Semester, a vehicle for an assortment of characters to educate viewers, would end up appearing in every series except the last; Words To Live By, the inspirational station signoff, would also appear frequently in the first three series; SCTV News; and Masterpiece Theatre, hosted by Alistair Cook.
Second City notes: Big News/Little News is from the 1975 Alterations While You Wait revue; the stage version was also played by Levy and Flaherty. Joni Newton Buffy is a character Martin developed on the stage, but only used it this one time on SCTV.