Get Ready for It's a Wonderful Life: The Sequel Planned film to tell story of George Bailey's grandson By Matt Cantor, Newser User Posted Nov 19, 2013 3:23 PM CST 16 comments Comments James Stewart, left, Thomas Mitchell, right, and Donna Reed appear in the 1946 movie "It's A Wonderful Life," directed by Frank Capra. (AP Photo/Files) (Newser) – We could soon learn what happened after the credits rolled in It's a Wonderful Life—several generations later, that is. In a planned sequel to the 1946 Jimmy Stewart classic, George Bailey's daughter Zuzu is an angel showing Bailey's grandson the world as it could have been had he never been born. In this case, however, the grandson, who shares his grandfather's name, isn't a pleasant guy, and the world looks a lot better without him, Variety reports. Playing Zuzu once again will be Karolyn Grimes, now 73. "The storyline of the new film retains the spirit of the original—every life is important as long as you have friends," says Bob Farnsworth, a producer and writer of It's a Wonderful Life: The Rest of the Story. The movie will be filmed largely in Louisiana; the lead actor and director are yet to be named, but other actors from the previous film are in talks to take part. The film is due for the holidays next year. But Entertainment Weekly isn't so sure the project will go forward. Jeff Labrecque notes that Paramount holds the rights to the original; the sequel, with a reported budget of $25 million to $30 million, is from Star Partners and Hummingbird Productions.