It's a Wonderful Life (1946)

It's a Wonderful Life is a film directed by Frank Capra, starring Jimmy Stewart, Donna Reed, Henry Travers, Thomas Mitchell, Beulah Bondi, and Lionel Barrymore.

Although the film begins and ends on Christmas Eve, this film is not a strict "Christmas movie." Most of the film is actually a straight dramatic story of the life of George Bailey, who keeps trying to get out of his small town of Bedford Falls, but keeps getting pulled back in for various reasons, most of them having to do with Henry F. Potter, the richest man in town. The film chronicles George's life from childhood, graduating from high school, and his many battles with Potter, as he tries to take over George's family-owned bank, the Bailey Building and Loan.

One Christmas Eve, George finds that the bank is short $8,000, and Potter accuses George of having stolen it. Rather than face the entire town (and possible jail time), George tries to jump off of a bridge, but he's stopped by an eccentric little elderly man named Clarence, who tells George that he's his guardian angel, and that he has to help him, so he can earn his wings. When George tells Clarence that he wishes that he'd never been born, Clarence shows him an alternate Bedford Falls, now named Pottersville. All of the people that George and the bank have helped over the years are now virtual slaves to Mr. Potter, and the Building and Loan no longer exists. As George visits his friends and family all over the town (none of whom know who he is), he sees that they have all become bitter, sad and depressed people. Finally, George can take it no more. He runs back to the bridge, and yells to an unseen Clarence (and to God) to please put everything back the way it was, even if it means that he has to go to jail for something he didn't do.

Suddenly, a local policeman finds him, and calls him by name. George is so happy, he hugs the policeman, and starts running home to his family. By the time he gets there, the entire town has gathered in his house, with a basket of money to repay the bank's missing funds. As they sing "Auld Lang Syne", George's daughter notices that one of their Christmas tree's bells is ringing. She tells George that every time a bell rings, an angel gets his wings. George agrees, and looks up to Heaven and says, "Atta boy, Clarence!"

Soundtrack
A CD, featuring excerpts from the film's soundtrack, including music, dialogue and sound effects, was released in 1997 on Nick at Nite Records, distributed by Sony Music Entertainment.

Television airings
When the original copyright expired in 1974 due to a clerical error by National Telefilm Associates, the rights holders at that time, the film went into public domain, meaning anyone could broadcast the film without the copyright holder getting paid. Paramount Pictures laid claim to a copyright in the 1990's, and is the current rights holders, and since 2002, granted NBC broadcast rights to air the movie twice a year, including Christmas Eve in the USA. In the UK, Universal Pictures, the owners of NBC, holds the rights. Oddly enough, Paramount held the rights to the movie from 1951 until 1955 when they bought Capra's production company, Liberty Pictures. They sold the right to U.M. and M. Company in 1955, then were purchased by NTA several years later.