In what could be a match made in heaven, Paul McCartney is writing his first ever musical - a stage adaptation of the classic Christmas film It's A Wonderful Life.

The once and forever Beatle will bring Frank Capra’s much-loved 1946 festive fantasy drama to life along with film and theatre producer Bill Kenwright and screen and playwright Lee Hall, who is responsible for the musical’s book and lyrics.

Donna Reed and James Stewart in It's a Wonderful Life 

The Press Association reports that the new stage production will launch in late 2020.

McCartney (77) was first asked to write the music by Kenwright in 2016. "Writing a musical is not something that had ever really appealed to me but Bill and I met up with Lee Hall ... and I found myself thinking this could be interesting and fun," McCartney said.

"Like many of these things, this all started with an email. Bill had asked if it was something I might be up for.

"Writing a musical is not something that had ever really appealed to me but Bill and I met up with Lee Hall and had a chat and I found myself thinking this could be interesting and fun."

McCartney, 77, added: "It’s A Wonderful Life is a universal story we can all relate to."

Starring James Stewart and Donna Reed, the film tells the story of George Bailey (Stewart), a man who has devoted his life to helping others but loses everything and who is then shown the value of his own life by a guardian angel, who arrives in time to prevent Bailey killing himself.

The film was nominated for five Oscars and is still a seasonal staple across the world and is regularly screened on Irish television on Christmas Day.

The film is still regularly shown on Irish TV on Christmas Day

Kenwright, who is known for West End hit Blood Brothers and is chairman of Everton Football Club, said that working with McCartney on the musical was a "dream realised".

He said he knew from McCartney's first demo that he had made the right choice.

"To be honest, I was hooked on first hearing him say 'one, two, three, four’ on the demo of the opening number," Kenwright said.

"But since then it’s been an extraordinary journey, on every song I experience Paul’s unique gift of melody and composition.

"It’s musical theatre, but it’s always McCartney."

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