An excited Doug Belgrad, president of Columbia Pictures, seems eager to begin work on the new Annie:

“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.”Combining Willow with the Overbrook team that reimagined Karate Kid and the spectacular JAY-Z makes this a dream project.  A decade ago, JAY-Z proved that the power of the underlying Broadway property remains, by showing how these songs could be reinterpreted for a new generation with Hard-Knock Life. We couldn’t be more thrilled to be working with our friends at Overbrook as they launch this new venture.”

This new partnership could be gigantic for all parties involved, especially Smith’s children, Willow and Jaden. Until they reach adolescence, they’ll be able to act in remakes of beloved family classics for years to come. I know I’m looking forward to new versions of Goonies, Rookie of the Year, Babes In Toyland, Home Alone, and of course, Sharkboy and Lavagirl in 3D. (Deadline)