The TV channel is WXMS, or W Xmas.

Fred is saying Merry Christmas to everyone in different languages as he gives away his money. At some point he says to the reporter "kala Christo├║genna." The reporter asks the camerawoman what he said, and she replied, "Its Greek to me," and in fact that is Greek for Merry Christmas.

There's a nod to Miracle on 34th Street at the end.