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Wheel Plans are used to rotate selected sponsors (called "participants") through the avails (called "participations") in a program series or sporting event. Often a participation is sold for sponsored news and weather casts that occur frequently throughout the day. Advertisers are sold these events with the understanding that they will rotate their sponsorship with other advertisers using a non-repetitive method. In this way, they obtain maximum audience coverage. Over time, their sponsorship will appear everywhere the program is sponsored.
The first dialog you see in Wheel Plans is the Create/Edit dialog. Here is where you create new plans or access existing ones.