Praise whatever higher power is over at Paramount: According to Indiewire, that blasphemous It's a Wonderful Life sequel, It's a Wonderful Life: The Rest of the Story, won't be happening after all. A spokeswoman from the studio reportedly announced yesterday that Paramount Pictures would laywer up if Bob Farnsworth and Hummingbird Productions attempted to produce a sequel to the classic 1946 film, beccause they actually have a little something called standards

"No project relating to 'It's A Wonderful Life' can proceed without a license from Paramount," the statement said. "To date, these individuals have not obtained any of the necessary rights, and we would take all appropriate steps to protect those rights." BAM. Lawyer'd.

Farnsworth, who wrote the script for the sequel film, previously told The Hollywood Reporter that the rights to the film were public domain, so he could write whatever sequel he wanted.

Karolyn Grimes, who portrayed the Bailey family's daughter, Zuzu, in the original film, was set to join the sequel as an angel who shows George Bailey's grandson, also named George Bailey, how much of an asshole he is. Grimes was quoted in a statement raving about the sequel, saying "was wonderful," and "I wanted to be involved with his version of the film immediately."

The son of late It's a Wonderful Life director Frank Capra didn't quite echo her sentiments: "If he was still alive, he would have called it ludicrous," Tom Capra told AP. "Then, I think we would have called his lawyer. Why would you even attempt to make a sequel to such a classic film?"

[via Indiewire]