Lyric discussion by djmike 

I always thought this song was specifically about the magic that radio can be, and should be. But it's also a lament over the commercialization that leads to cookie-cutter formats, and soulless corporate suits who care only about the bottom line.

Radio is meant to be personal, and can indeed be a friend...a "companion unobtrusive." But the song, in its brilliant prescience, foretells corporate ownership, consolidation, and the move away from local and personal focus.

I think the line about "all this machinery making modern music" just refers to the technical, physical equipment necessary to broadcast a radio signal.

Great song indeed; it's one of my favorites.

Dude... that was deep.

@djmike Awesome analysis. Only thing to add is it is about a specific radio station, 102.1 CFNY.

en.wikipedia.org/wiki/CFNY-FM

@djmike I'm with you most of your post, but one question/possible disagreement - that line "all this machinery making modern music, can still be open-hearted", I always thought that line was about the infiltration into Rock and Roll of synthesizers, etc. ( a direction in which Rush was heading next), and how the message shouldn't be reduced to the medium.

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