Q. What are the lyrics to the closing theme?
A. There are no lyrics. None. It's all just gibberish and nonsense words. Here's a fuller explanation, taken from Michael Kassel's "America's Favorite Radio Station" site:
Ever wonder what the words are to the closing theme of WKRP? Before you get excited about finding those long lost lyrics, the actual answer is -- there are none! Tom Chehak, a first season writer who was present at the Atlanta recording session of the theme, recalls how Tom Welles, theme writer, suggested to Chehak and Hugh Wilson a closing theme for the song. According to Chehak, the singer just started blarring out a bunch of nonsense words; if any of them were actual words, they're lost to history. Indeed, Chehak recalls how great they all thought it would be to leave fans guessing forever -- looks like they got their wish.
Q. Who wrote the closing theme? Who sings it?
A. The closing theme also has music by Tom Wells. The nonsense lyrics were probably mostly improvised by the singer. According to Steve Marshall at the Museum of Television and Radio's WKRP seminar (March 4, 1994), the singer of the closing theme was named Jimmy Ellis.
http://members.attcanada.ca/~jacjud/wkrpfaq.html
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A Skidmark production.