Final answer:
Frank Capra's classic film 'It's a Wonderful Life' fell into the public domain in 1974 when the copyright was not renewed. This oversight allowed TV networks to air it for free, leading to its status as a holiday classic watched by generations.
Step-by-step explanation:
In 1974, Frank Capra inadvertently allowed a classic movie to enter the public domain due to a failure to renew its copyright.
That movie was It's a Wonderful Life, a film that has become a holiday staple and a significant part of American cinema history. In It's a Wonderful Life, Jimmy Stewart portrays George Bailey, a man who manages a family-owned savings and loan association.
Throughout the film, George faces numerous trials, including a critical moment where he thwarts a bank run reminiscent of those during the years 1929-1930. Ultimately, in the face of adversity and the unscrupulous intentions of a rich banker, it is the community's support that enables George to overcome his challenges.
The film's fall into the public domain allowed television networks to broadcast it without paying licensing fees, significantly contributing to its status as a beloved holiday classic.