"It's a Wonderful Life" (1.5/6 in 18-49, 5.6 million viewers) ranked #1 for the night among ABC, CBS, NBC and Fox in adults 18-49, total viewers and all other key ratings categories.
It's the #1 theatrical movie on ABC, CBS, NBC and Fox so far this season in total viewers and tied for #1 in adults 18-49 (with CBS's December 15 airing of "Elf"). It's also the biggest overall audience for a telecast of "It's a Wonderful Life" since Saturday, Dec. 10, 2005. ...
Disney's Prep and Landing came in a distant second during the 8 o'clock hour, and Shrek the Halls held down second place at 8:30 on ABC. And the theatrical Shrek the Third was in the third position -- though not by much -- at 9:00 p.m.
So I guess we can agree that it's reckless to underestimate the power of Frank Capra at Christmastime. Even if you're Shrek.