Please read the following text and summarize it. The final output should be limited to 50 words. Here is the text: The classic film It's A Wonderful Life is to be turned into a musical by the producer of the controversial hit show Jerry Springer - The Opera.Frank Capra's 1946 movie starring NAME_1, is being turned into a £7m musical by producer NAME_2. He is working with NAME_3, who wrote the award-winning musical Spend Spend Spend. A spokeswoman said the plans were in the 'very early stages', with no cast, opening date or theatre announced.A series of workshops have been held in London, and on Wednesday a cast of singers unveiled the musical to a select group of potential investors. NAME_4 said the idea of turning the film into a musical had been an ambition of his for almost 20 years. It's a Wonderful Life was based on a short story, The Greatest Gift, by NAME_5. NAME_4 managed to buy the rights to the story from NAME_6's family in 1999, following Mr NAME_7's success with Spend Spend Spend. He later secured the film rights from Paramount, enabling them to use the title It's A Wonderful Life. Limit your response to 100 words.
user