Frank Cross is a cynical and selfish television executive who has let his lust for power and success overshadow any semblance of humanity or kindness. Tasked with producing a live Christmas Eve broadcast of "A Christmas Carol," he shows little regard for the well-being of his staff, pushing them to their limits and firing an employee for voicing a mild disagreement. Frank's obsession with ratings and his career has alienated him from friends, family, and the woman he once loved, Claire, who represented the warmth and affection he has since discarded.

On the eve of the production, Frank is visited by the ghost of his former mentor, Lew Hayward, who warns him that he is headed for a dark, lonely end if he doesn't change his ways. Lew informs Frank that he will be visited by three ghosts who will take him on journeys that force him to confront his past, present, and the dire implications of his future. As Frank experiences these spectral encounters, each one peels back a layer of his hardened exterior, presenting him with visions that lead to moments of insight and remorse about the decisions he has made and the person he has become.