Is network a true story?

Could you please clarify for me whether the narrative presented in "Network" is based on factual events or is it purely fictional? I'm particularly interested in knowing if the themes, characters, and their struggles within the film are rooted in real-life experiences, or if they are solely the product of the screenwriter's imagination. Additionally, are there any known inspirations or sources that the creators drew upon to craft this story? Understanding this distinction would greatly enhance my appreciation of the film and its messages.