"It's a Wonderful Life" Sequel In The Works

Jimmy Stewart and Donna Reed in scene from the 1946 movie "It's A Wonderful Life."
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(CBS) -- George Bailey and his wonderful life are getting a sequel.

Frank Capra's 1946 classic "It's a Wonderful Life" is getting a follow-up, 67 years after the film's release.

Star Partners and Hummingbird Productions are collaborating on "It's a Wonderful Life: The Rest of the Story," and are aiming to release the film for the 2015 holiday season, Variety reports.

The sequel will focus on the descendants of the troubled family man played by Jimmy Stewart in the original film. Karolyn Grimes, who portrayed Bailey's daughter Zuzu, will return as an angel who shows Bailey's unlikeable grandson (also named George Bailey) how much better off the world would have been had he never been born.

The original "It's a Wonderful Life," of course, follows a despondent George Bailey (Stewart) as he tries to kill himself before an angel shows him how bad life would be without him.

No casting decision for the lead role of Bailey's grandson will be made until February, according to Variety, but producers have also begun discussions with original cast members Jimmy Hawkins (who played Tommy Bailey and is now 72 years old) and Carol Coombs (who played Janie Bailey and is now 78) to reprise their roles as well.

Bob Farnsworth of Hummingbird Productions penned the script with Martha Bolton, who worked with Bob Hope as a staff writer on the comedian's specials, according to The Hollywood Reporter. And he's aware that the sequel plans may not sit well with fans of the original film.

"Look, no one can make another 'It's a Wonderful Life.' But our story is solid, and we are going in with our eyes open," he told THR. "There is no doubt about it, there will be a ruckus. But I have this motto: All it takes to be a leader is to have a cause you believe in. And the stronger you believe in the cause, the more adversaries you will have. And we strongly believe in this."

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