Annie is really happening! Will Smith's production company, Overbrook Entertainment, is partnering with Jay-Z to start releasing movies.
One of their first projects together will be the remake of Annie, which Smith is doing with his 9-year-old daughter Willow.
The film will be developed with Sony Pictures and produced by both Smith's Overbrook Entertainment and Jay-Z.
Willow Smith is also signed to Jay-Z's Roc Nation label, which produced her first single 'Whip My Hair.'
Jay-Z explains how this deal came about based on past partnerships, "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. This venture into film development and production is a perfect next step with teams that are accomplished, creative, and innovative.”
Here's what Overbrook Productions co-founder James Lassiter had to say about the partnership, “We are excited to partner together to develop and produce a wide variety of films with our longtime friend JAY-Z, with whom we share a common global vision, both commercially and philosophically, and look forward to collaborating once again with the incredibly talented executives at Sony."