Someone decided that there needed to be a show about commercials. In 1982, NBC and Johnny Carson made it possible.
Carson's production company packaged Television's Greatest Commercials, which actually was the start of a recurring series of specials, all hosted by Ed McMahon (The Tonight Show, Star Search) with a different co-host each time. In this offering, it's Tim Conway. Subsequent specials would have McMahon paired with Mariette Hartley, Ann Jillian, and Joyce DeWitt, just to name a few. An ad McMahon did for Alpo is included.
Your announcer is Paul Frees.