Wildfire was the first release from Screen Guild Productions, the adventuresome little independent that would eventually metamorphose into Lippert Pictures Inc. The title character is a magnificent wild horse, slated to be destroyed by a group of ranchers. It seems that Wildfire is being held responsible for luring the ranchers' own stock of horses into the hills. Bob Steele and Sterling Holloway play Happy and Alkali, two rambunctious horsetraders who rescue Wildfire from extinction. Apparently they succeed, inasmuch as 1948 brought forth a sequel,
Return of Wildfire, which unlike its predecessor was lensed in Sepiatone rather than Cinecolor. ~ Hal Erickson, All Movie Guide