The 1974 film, starring Gene Hackman as a nerdish, inhibited surveillance expert, was shot entirely in San Francisco, and features extensive scenes in the pre-remodeled Union Square, the newly built Embarcadero Center, and the Cathedral Hill Hotel on Van Ness, then called the Jack Tar Hotel. The plot concerns Hackman becoming overly-interested in a conversation he’s recorded on behalf of shadowy corporate figures. As in Antonioni’s Blow-Up (and its American adaptation, Brian DePalma’s Blow-Out,) Hackman’s interest in small, unnoticed details of his record of the meeting get him into trouble.
The series would be set in the early 1970s, the same era as the film, according to the news report. Whether it would also be shot in San Francisco remains to be seen. AMC’s Mad Men, set in early 60s New York, is filmed entirely on a Southern California movie lot (as shown in this blog entry by Mad Men cast member Rich Sommer).