Will & Willow Smith Eyeing ‘Annie’ Remake; Jay-Z in Music Talks

The elder Smith would produce the Sony project through his company Overbrook Entertainment

It's not exactly a hard knock life for Willow Smith, but regardless, the young actress is looking to star in a remake of the classic musical "Annie" that's in development at Will Smith's company Overbrook Entertainment, reports Variety.

The elder Smith is talking to Sony about mounting a remake of the project, which Smith would produce, though we'll have to wait and see if he takes on the aptly-named role of Daddy Warbucks.

Sony would not confirm or comment on the details of the report.

Rapper Jay-Z is evidently in talks to collaborate on the music, having previously working with Willow on her hit pop song "Whip My Hair," although it remains unclear if the proposed remake will include any original songs.

Of course, Jay-Z famously turned the Annie song "Hard Knock Life" into one of his biggest hits.

Sony and the Smiths have shared success in the past, as the studio's "Karate Kid" reboot starring Jaden Smith grossed more than $350 million worldwide. The film's financial windfall likely paved the way for the "Annie" remake.

Willow and her famous father previously shared the screen in 2007's "I Am Legend."