Will Smith Calls on Emma Thompson to Pen New ANNIE Flick for Willow

As previously reported, an Annie remake is in the works, produced by Will Smith, Jada Pinkett Smith, Jay-Z and partners, and starring the Smith's youngest, Willow. No other casting has been revealed (Willow has, however, expressed her wish for Brad Pitt to step into the shoes of Daddy Warbucks), and while for a time it seemed GLEE's Ryan Murphy was in talks to direct, it appears those talks are off, according to published reports.

Today, New York Magazine reveals that Will Smith has called upon Emma Thompson, with whom he is currently starring in Men in Black III, to readapt John Huston's screenplay for the latest reincarnation of the famous story. 

Overbrook Entertainment partners James Lassiter, Ken Stovitz, Jada Pinkett Smith and Will Smith have formed a joint venture with Shawn "Jay-Z" Carter to develop and produce major motion pictures. Annie will be developed with Sony Pictures Entertainment and produced by Overbrook Entertainment and Carter.

The partnership began over dinner with Jada, Will, James Lassiter 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.

Additionally, Willow Smith, managed by OE Executive Miguel Melendez, signed onto JAY-Z's record label, Roc Nation which produced her first single titled "Whip My Hair" has been certified Platinum. JAY-Z previously sampled the classic Annie song "It's the Hard Knock Life" in his chart-busting single "Hard Knock Life (Ghetto Anthem)."

The Broadway musical "Annie" is based upon the popular comic strip and features songs with music by Charles Strouse and lyrics by Martin Charnin and a book by Thomas Meehan. The show originally opened on April 21, 1977, and immediately became a hit, winning seven Tony Awards, including Best Musical. In 1982, Columbia Pictures released a film adaptation directed by John Huston and starring Albert Finney, Carol Burnett, Bernadette Peters, Tim Curry, and Aileen Quinn as Annie.