ɪts ɐ wˈʌndɚfəl lˈaɪf wʌz ɪŋkˈoːɹpɚɹˌeɪɾᵻd ˌɪntʊ pˈæɹəmˌaʊnts pɹˈiː nˈaɪntiːnhˈʌndɹɪd fˈɪfti lˈaɪbɹɛɹi, ænd ɪn nˈaɪntiːnhˈʌndɹɪd fˈɪfti fˈaɪv pˈæɹəmˌaʊnt sˈoʊld ɪt tə jˈuː.ˈɛm. ænd ˈɛm. tˌiːvˈiː kˌɔːɹpɚɹˈeɪʃən ɐlˈɔŋ wɪð ðɛɹ mˈɛnɪəv ðɛɹ ʃˈɔːɹt sˈʌbdʒɛkts, wˌɪtʃ wɜːɹ ˈɔːl lˈeɪɾɚ sˈoʊld tə nˈæʃənəl tˈɛlᵻfˌɪlm ɐsˈoʊsɪˌeɪts, ænd ɪn tˈɜːn bɪkˌeɪm ɹᵻpˈʌblɪk pˈɪktʃɚz, wˌɪtʃ wʌz sˈoʊld tə pˈæɹəmˌaʊnts kˈɜːɹənt pˈɛɹənt vˈaɪəkˌɑːm ɪn nˈaɪntiːnhˈʌndɹɪd nˈaɪnti nˈaɪn.
It's a Wonderful Life was incorporated into Paramount's pre-1950 library, and in 1955 Paramount sold it to U.M. & M. TV Corporation along with their many of their short subjects, which were all later sold to National Telefilm Associates, and in turn became Republic Pictures, which was sold to Paramount's current parent Viacom in 1999.