Cameron Diaz to Play Miss Hannigan in Will Smith and Jay-Z’s ‘Annie’ Remake

Sony's musical stars Quvenzhane Wallis as the orphan and Jamie Foxx

After a successful collaboration on "Bad Teacher," Sony has turned to Cameron Diaz to play Miss Hannigan in a remake of "Annie" that the studio is producing with Will Smith's Overbrook Entertainment banner, an individual familiar with the project has told TheWrap.

Diaz joins the project after Sandra Bullock walked away from the role not once, but twice.

Hannigan, of course, is the meanie who runs the orphanage where Annie and her friends live. Carol Burnett memorably played the role in the original 1982 film, and Sony has sought to cast an actress with comedic chops and international appeal.

Also read: Sandra Bullock Won't Be in 'Annie' Remake After Negotiations End (Exclusive)

With hits like "There's Something About Mary" and "Charlie's Angels" under her belt, Diaz fits that bill, plus Sony is already invested in the actress, who is set to star opposite Jason Segel in the studio's comedy "Sex Tape."

Will Smith and Shawn "Jay-Z" Carter are among those producing Will Gluck's updated musical, which stars Quvenzhane Wallis ("Beasts of the Southern Wild") as the orphan and Jamie Foxx as a variation of the original's Daddy Warbucks character.

Also read: 17 Actors Who Turned Down Career-Changing, Iconic Roles

Foxx and Diaz previously worked together on Oliver Stone's "Any Given Sunday."
With production expected to start production this fall," Annie" is scheduled to hit theaters on Christmas Day 2014, the same day Disney will release its musical "Into the Woods."

Diaz, who's currently filming "The Other Woman" for Fox, will soon be seen in Ridley Scott's "The Counselor" alongside Michael Fassbender, Javier Bardem and Brad Pitt. She's repped by CAA and manager Rick Yorn.

Deadline broke the news.