A Paramount spokeswoman confirmed on Wednesday that the studio intends to block the proposed sequel to the 1946 holiday classic "It's A Wonderful Life".
Star Partners and Hummingbird Productions announced plans on Monday for "It's a Wonderful Life: The Rest of the Story" which would follow the grandson of Jimmy Stewart's George Baily character.
The aim was to begin shooting next year for a 2015 release. Hummingbird's president Bob Farnsworth claimed that the property's rights were in the public domain. However, Paramount has controlled the rights to the film for the past 14 years, after the studio acquired Republic Pictures in 1999.
The studio spokesperson says: "No project relating to 'It's A Wonderful Life' can proceed without a license from Paramount. To date, these individuals have not obtained any of the necessary rights, and we would take all appropriate steps to protect those rights."
Source: The New York Daily News