January 27th, 2011
06:15 PM ET
That "Annie" remake? It's officially happening.
Overbrook Entertainment has teamed up with Jay-Z, Will and Jada Smith to produce an "Annie" vehicle that the superstar couple's daughter Willow will star in.
But the partnership isn’t stopping there – this team is also aiming to develop and produce other feature films.
According to a statement, “The partnership began over dinner with Jada, Will, James Lassiter [of Overbrook] and Jay-Z, where they decided to co-invest in the now successful beauty products line Carol’s Daughter. They continued this partnership as co-producers of the successful Broadway production 'Fela!', which earned a total of eleven Tony Award nominations in 2010.”
Lest you forget, Jay is the guy who signed Willow to his Roc Nation label, which produced her smash single, “Whip My Hair.” Not to mention that Jay himself has had success with sampling the “Annie” property to create his own single, “Hard Knock Life.”
“The time is right to bring back 'Annie' to the big screen,” said Columbia Pictures President Doug Belgrad (the film will be developed by Sony Pictures) in a statement. “Of course, we’re true believers in Willow's talent and believe she will be perfect in this role. Combining Willow with the Overbrook team that re-imagined ‘Karate Kid’ and the spectacular Jay-Z makes this a dream project.”
Overbrook Entertainment, which was founded by partners James Lassiter and Will Smith, will co-produce the project along with Jay-Z.
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