Ten-year-old Willow Smith is set to play the title role in "Annie."
The film is being developed by Overbrook Entertainment, which the Smiths co-own, along with Shawn "Jay-Z" Carter and Sony Pictures.
Last year, 12-year-old Jaden Smith starred in a remake of "The Karate Kid," which raked in $343 million worldwide.
Sony's Columbia Pictures first brought "Annie" to theaters in 1982.
The movie was based on the Broadway musical in which an orphan's life is transformed when she goes to live with the wealthy industrialist Oliver "Daddy" Warbucks.
