It's nearly Christmas and as you settle into your annual festive rewatches, did you know that It's a Wonderful Life has a dark back-story?
A Christmas Carol.
Bank of America's archival records show that the company borrowed $1.54 million to make the movie, directed by studio co-founder Frank Capra, on a budget of $2.3 million. Initially set up as an independent film company , Liberty couldn't survive the financial blow. To avoid a takeover, co-founders Capra and William Wyler decided to sell Liberty Studios and its director contracts to other competing studios. Paramount eventually won the bid.
They were right. Capra wasn't a Hollywood director, he was truly an independent. The son of Capra's former partner said:"Frank was never found taking his hat off to conventional wisdom, market research, the front office or the latest trend."
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