Own the rights?
No. Certain quotes in this film are verbatim to quotes in the 1968 film, but the screenplays are quite dissimilar. In this film, far more character development is made on behalf of Ulla and there are no real musical scores (save the Springtime for Hitler play) in the 1968 film. The basic plots and characters are the same, though (they are after all based on the same source material and share the same name), but this film is 35 minutes longer than the 1968 film.
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