Will Smith, Jay-Z producing musical based on Broadway play

Will Gluck is in negotiations to direct the reimagining of “Annie” for Sony.

The film will be produced by James Lassiter, Jada Pinkett Smith and Will Smith through their Overbrook Entertainment banner as well as by Shawn “Jay Z” Carter, Jay Brown and Tyran “Ty Ty” Smith through Marcy Media.

Based on the Broadway musical, pic will be set in modern times and follow the adventures of little orphan Annie as she tries to find a family to call her own. Willow Smith was once set to star but is no longer attached to the project.

Gluck will revise the screenplay written by Emma Thompson and rewritten by Aline Brosh McKenna.

Hannah Minghella, Andrea Giannetti and DeVon Franklin will oversee for Sony.

“Annie” is one of a handful of musicals in development, along with Universal’s “Wicked” and GK Films’ “Jersey Boys,” and Sony is hoping the recent success of Universal’s “Les Miserables” carries over to its film.

The show had a recent revival on Broadway opening this past November in honor of its 35th anniversary.

The UTA-repped Gluck is a producer on the Screen Gems pic “About Last Night” and most recently helmed Screen Gems’ “Friends With Benefits.”

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