Paramount Pictures says the rights to produce a sequel to "It's a Wonderful Life" have NOT been acquired.
Filming of the sequel cannot begin until the movie studio issues a license.
Earlier this week, a production company announced intentions to create a sequel based on the 1946 holiday classic.
The president of the company told the website variety-dot-com "It's a Wonderful Life: The Rest of the Story" was set for release in 2015.
Officials at Paramount have said they will take the appropriate steps to protect the rights of the original film.
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