Will Smith and Jay-Z team on Annie big screen adaptation and other film projects

According to Variety, a big screen Annie re-imagination with Willow Smith as the titular orphan will be developed by a new joint venture between her dad Will Smith’s Overbrook Entertainment and hip-hop mogul Jay-Z, in association with Sony Pictures. Annie will be produced by Jay-Z and Overbrook, which includes principals Will and Jada Pinkett Smith, James Lassiter and Ken Stovitz.

Annie will be the first movie project of an as-yet-unnamed joint venture between Overbrook and Jay-Z, which plans to produce multiple features. The group has already invested in beauty products line Carol’s Daughter, and co-produced the Broadway show Fela!, which was nominated for 11 Tony Awards in 2010.