In the Christmas season of 1988, Frank Cross is overseeing the live broadcast of “Scrooge.” His staff joins the youngest president in IBC Network history for a heated meeting about new ads. They view spots for “The Night the Reindeer Died” and “Father Loves Beaver,” but Frank finds the “Scrooge” promo appallingly shallow. He shows his staff his own version, one that depicts terrorism, drug use, and nuclear blasts as a scare tactic for viewers considering not spending Christmas Eve watching television. Brave executive Elliot Loudermilk confronts Frank after the meeting and challenges his superior’s inclination to run the scary ad. Elliot is promptly terminated and escorted from the building. Grace, Frank’s secretary, informs him that the boss, Preston Rhinelander is arriving soon for an unannounced meeting. Frank gulps a stiff drink and greets Preston with an obvious façade. Preston informs Frank that he’s just read research about pets watching television and forces Frank to include animal oriented gimmicks in the “Scrooge” broadcast. After escorting Preston to the elevator, Frank is greeted by Brice Cummings, prompting Frank to request a full report on Brice’s background from Grace. She, in turn, pleads with Frank to allow her to take her mute son to a much-anticipated doctor appointment. Frank concedes, and joins his brother James in the exercise room. Frank and his brother wander the streets of Manhattan and James invites Frank over for Christmas dinner. Frank expresses his distaste for such events, and heads to a ceremony where he receives an award for his humanitarianism. Elliot Loudermilk wanders the streets, drunk, crushed by his Christmas Eve termination. Upon arriving back at the network, Frank leaves his award in the cab. While drinking in his office, Frank’s door explodes, and his deceased former Boss, Lew Hayward, warns Frank that three ghosts will visit him to convince him to reform. Lew strangles Frank and tosses him from the high-rise window, but Lew is only an apparition, and Frank falls back into his office. In his confusion, he dials the number of someone from his past, Claire Phillips. Because they have not spoken in fifteen years, Frank does not expect a response, but leaves a message anyway. The next day, Frank learns that his negative ad has scared an elderly woman to death. Inspired by the publicity, he heads for the set of “Scrooge.” Claire pays him a surprise visit, concerned that the message he left indicated that he was truly afraid. Frank denies this, so Claire gives him her card and loses herself in the hustle of the construction crew. Frustrated, Frank goes to lunch. At the restaurant, Preston Rhinelander reveals that he has assigned Brice Cummings to join Frank’s oversight of “Scrooge” as a consultant. Frank is immediately struck with a light head, and hallucinates that one of the waiters is engulfed in flames. He springs into action and tosses water on the innocent waiter, much to the concern of Preston and Brice. Outside, Frank hails a cab. The cab driver is the Ghost of Christmas Past! The Ghost brings Frank back to his childhood home in 1955. Frank indicates that he has control of his emotions, but upon seeing his caring mother contrasted with his angry father, Frank weeps. Next, the Ghost brings Frank to the IBC building in 1968, and Frank sees himself wandering through an office party, working as an intern while the rest of the staff is in high spirits. Frank rejects the advances of an attractive girl, but the Ghost reveals that this happened for a reason. Frank later watches himself receive a blow to the head from Claire, who is leaving a grocery store and accidentally hits him. Claire and Frank begin to date, and the Ghost brings his passenger to the happy home they shared in 1969. Finally, the Ghost brings Frank to the set of “Frisbee the Dog,” the children’s program Frank nurtured. Claire arrives, expecting Frank to join her for Christmas dinner, but he has decided to accompany his boss to a fancy restaurant. Broken-hearted, Claire separates from Frank. The Ghost disappears, and Frank finds himself back in 1988 on the “Scrooge” set. Inspired by his glimpse of the past, Frank heads to the homeless shelter operated by Claire. There, he wins the attention of a beggar named Herman. Claire discovers Frank and he invites her to dinner. A disagreement over the competence of Claire’s staff causes them to separate once again. Back at the studio, Frank is troubled to find that Brice has taken over directorial duties. Brice ignores Frank, and as the cast and crew head to lunch, the studio lights flicker out. The Ghost of Christmas Present arrives and takes Frank to Grace’s home. Frank sees that Grace’s son, Calvin, has been rendered mute from trauma. The family lives in poverty, and Frank realizes he must offer Grace a raise. Next, the Ghost shows Frank the Christmas gathering at his brother’s house. James admits to his guests that he misses his brother and wishes he were with them. Finally, the Ghost sends Frank to the sewer, where he finds Herman frozen to death. Regretful, Frank realizes that Claire could have saved Herman. Frank breaks down a nearby door and is once again at the studio. Brice and Grace send the frazzled Frank to his office to watch the broadcast. The frightening Ghost of Christmas Future almost captures Frank, but is interrupted when Elliot Loudermilk barges in wielding a shotgun. Elliot is determined to shoot his former boss, but Frank manages to escape to an elevator. The Future Ghost is inside waiting for him, and brings Frank to see that young Calvin will be committed to an asylum and Claire will become an insensitive socialite. Finally, the Ghost allows Frank to view his own cremation. As he sees himself lying in the burning coffin, Frank is overcome with panic, but he suddenly reappears at his own office, brimming with joy. He rehires Elliot at a substantial salary increase, and the two hijack the “Scrooge” broadcast. Frank addresses the world, saying that he is a changed man, and that everyone watching can experience the same renewed sense of life fulfillment as the cast, crew and audience join in singing a Christmas Carol.