The exteriors for "Colby Enterprises" were shot at the First Interstate Tower in Los Angeles. Exteriors for Zach Power's headquarters were shot at the nearby Bank of America Building. First Interstate and BofA were powerful rivals at the time, just as were the fictional denizens of the buildings.
Each episode cost approximately $1 million to make. This made it one of the most expensive TV series of the 1980s. Such costs were also a factor in the series cancellation.
Faye Dunaway was originally offered the role of Frankie (eventually played by Katharine Ross), but her high salary demands shut down negotiations.
Rock Hudson was offered the lead role of Jason Colby, but due to his declining health, turned down the role.
When the series was canceled, Charlton Heston, John James and Emma Samms were offered contracts to continue playing their roles on Dynasty. James and Samms accepted, however, Heston declined because his salary demands could not be met. Stephanie Beacham and 'Tracy Scoggins' were offered and accepted contracts for Dynasty during the 1988-89 season.