By Lindsay Powers

LOS ANGELES (Hollywood Reporter) - Overbrook Entertainment partners James Lassiter, Ken Stovitz, Jada Pinkett Smith and Will Smith are partnering with Jay-Z to release movies.

One of the first projects they're discussing is a remake of the Broadway classic "Annie," in which the Smiths' daughter, Willow, 9, would star.

Jay-Z sampled the tune "It's a Hard Knock Life," from the "Annie" musical, in his hit "Hard Knock Live (Ghetto Anthem)."

The film will be developed with Sony Pictures Entertainment and produced by Overbrook Entertainment and Jay-Z (real name: Shawn Carter).

Jada, Will, Lassiter and Jay-Z decided to form the partnership over a recent dinner. They also co-invested in beauty products line Carol's Daughter, and co-produced the Broadway production of "Fela!," which earned 11 Tony Award nominations in 2010.

Willow Smith signed onto Jay-Z's record label, Roc Nation, which produced her first single titled "Whip My Hair," which has been certified Platinum.

"The time is right to bring back 'Annie' to the big screen. Of course, we're true believers in

Willow's talent and believe she will be perfect in this role," said Columbia Pictures President Doug Belgrad in a statement. "Combining Willow with the Overbrook team that reimagined 'Karate Kid' and the spectacular Jay-Z makes this a dream project."

Said Jay-Z in a statement, "The Overbrook Entertainment family and I have a unified vision. We've already produced a Tony Award winning play and we're developing a true superstar in Willow."

Overbrook Entertainment has generated more than $2.5 billion in revenue by producing some of Smith's films like "Ali," "Hitch," "Pursuit of Happyness," "I Am Legend" and "The Karate Kid."

I thought Will was supposedly recording a reunion album with Jazzy Jeff.

She doesn't even look like Annie!

MidniteMagnet said:

She doesn't even look like Annie!

Maybe she started going to Darque Tan.

......"Santa Claus, what's that ? who's he? "

ok..so who's gonna play Daddy Warbucks, Miss Hannigan and Rooster ?

[Edited 1/26/11 18:22pm]

Not to speak ill of baby chirren but this kid is ugly. WTH happened? The sons are all darling!

RipTheJacker said:

......"Santa Claus, what's that ? who's he? "

ok..so who's gonna play Daddy Warbucks, Miss Finnegan and Rooster?

Treach, Nicki Minaj & Memphis Bleek.

HonestMan13 said:

RipTheJacker said:

......"Santa Claus, what's that ? who's he? "

ok..so who's gonna play Daddy Warbucks, Miss Hannigan and Rooster?

Treach, Nicki Minaj & Memphis Bleek.

had to fix one of those names.

lol @ who you picked.

Geez, why a remake of "Annie?" What's the point? Why can't they just do e a new broadway play, if they want Willow to star in it, instead of relying on a remake of one?

[Edited 1/26/11 18:45pm]

Will and Jay-Z are teaming up huh?

A match made in illuminati hell heaven.

If I see one more mention of someone doing a remake of a classic film, I'm going postal...

Timmy84 said:

If I see one more mention of someone doing a remake of a classic film, I'm going postal...

Did you hear that Tyler Perry is trying to score the rights to 'The Color Purple?'

Layzie said:

Timmy84 said:

If I see one more mention of someone doing a remake of a classic film, I'm going postal...

Did you hear that Tyler Perry is trying to score the rights to 'The Color Purple?'

No but I'm not shocked.

Timmy84 said:

Layzie said:

Did you hear that Tyler Perry is trying to score the rights to 'The Color Purple?'

No but I'm not shocked.

With Ice Cube as Mister.

Nicki Minaj as Shug Avery.

[Edited 1/26/11 18:54pm]

Layzie said:

Timmy84 said:

No but I'm not shocked.

With Ice Cube as Mister.

Nicki Minaj as Shrug Avery.

Is nothing sacred? Will Smith better not fuck with my childhood.

Layzie said:

Timmy84 said:

No but I'm not shocked.

With Ice Cube as Mister.

Nicki Minaj as Shug Avery.

[Edited 1/26/11 18:54pm]

What Annie movie are you guys talking about?

I wish the whole family would fucking disappear.

uPtoWnNY said:

I wish the whole family would fucking disappear.

that makes 2 of us

Layzie said:

Timmy84 said:

No but I'm not shocked.

With Ice Cube as Mister.

Nicki Minaj as Shug Avery.

[Edited 1/26/11 18:54pm]

Ice Cube as "Mister"??? LMAO....I think this man is more fitting for the role....

cinnamongal said:

uPtoWnNY said:

I wish the whole family would fucking disappear.

that makes 2 of us

that makes three of us

What's up with all these movie remakes?! First it was "The Karate Kid",now it's "Annie"??

Don't they have any original ideas? This is absurd.

...

[Edited 1/27/11 5:25am]

HotGritz said:

Not to speak ill of baby chirren but this kid is ugly. WTH happened? The sons are all darling!

(The Na'vi gene in the family had remained recessive up 'til her. Just thank the Lord she's not blue.)

MidniteMagnet said:

She doesn't even look like Annie!

I know! What, with irises and everything.

More than likely, this will be a big hit due to the clout that her backers bring to the project. They'll find the right director for the project, throw stupid amounts of money in advertising, marketing, etc. Strategize when to release it to guarantee a #1 debut its first week. Plus they'll be building on her success/audience from her records. No brainer.

Wasn't this done already in 1982 with Carol Burnett? What the hell was wrong with that one? Unless a movie was originally released during the silent movie era or in the extreme early 1900s when picture quality was so horrible and primitive, there's no need to remake it.

MidniteMagnet said:

She doesn't even look like Annie!

You got that right. Well, if she can play Annie, then why not cast Rosanne Barr to play Aretha Franklin?

musicjunky318 said:

Layzie said:

With Ice Cube as Mister.

Nicki Minaj as Shug Avery.

[Edited 1/26/11 18:54pm]

vainandy said:

MidniteMagnet said:

She doesn't even look like Annie!

You got that right. Well, if she can play Annie, then why not cast Rosanne Barr to play Aretha Franklin?

Well, there was this:

MickyDolenz said:

vainandy said:

You got that right. Well, if she can play Annie, then why not cast Rosanne Barr to play Aretha Franklin?

Well, there was this:

As far as I can remember, I think the only version prior to this was a cartoon. Hell, I don't know. But they did still cast a white woman to play a white woman.