Will Smith is ready to produce yet another Hollywood remake through his company, Overbrook Entertainment, in which he is a co-owner along with his wife, Jada Pinkett Smith, Sony Pictures, and recording artist/music mogul Jay-Z.

The team is set to remake Annie, the hit Broadway music based on the 1920s comic strip, Little Orphan Annie. Annie has also been turned into a feature film before by Columbia Pictures in 1982 and Disney in 1999.

In this new take on the story, Smith’s daughter, Willow Smith, is set to star in the lead role of Annie, the young orphan left in the care of an evil woman after her parents perish in a fire. Eventually, a very rich man decides to bring an orphan to his home for a week to improve his image; Annie is chosen and soon wins his heart.

Just last year Smith and company delivered The Karate Kid, a remake of the 1984 movie of the same name starring Smith’s son, Jaden.

No word yet on when the film will enter production or when it might be slated for release.

[Source: AP]