It's a Wonderful Life

In 1993, Republic Pictures, which was the successor to NTA, relied on the 1990 U.S. Supreme Court ruling in Stewart v. Abend (which involved another Stewart film, Rear Window) to enforce its claim to the copyright. While the film's copyright had not been renewed, Republic still owned the film rights to ''The Greatest Gift''; thus the plaintiffs were able to argue its status as a derivative work of a work still under copyright. NBC, since 1996, is licensed to show the film on U.S. network television, and traditionally shows it twice during the holidays, with one showing on Christmas Eve. Paramount (via parent company Viacom's 1998 acquisition of Republic's then-parent, Spelling Entertainment) once again has distribution rights for the first time since 1955.

Is this statement correct "is it's a wonderful life public domain"?
no