Oscar-winning screenwriter/actress being eyed for adaptation.

Back in January it was revealed that Will Smith and Jay-Z were teaming up to produce a reboot of the Broadway hit ‘Annie,’ with Smith’s daughter Willow set to take the lead role.

Thing have been quiet since then, but now Vulture reports that Smith and Jay-Z are looking to enlist Oscar-winning screenwriter/actress Emma Thompson (‘Nanny McPhee,’ ‘Sense and Sensibility’) to re-adapt the screenplay for director John Huston’s 1982 big screen version of ‘Annie.’

While there is no word on whether Thompson will take a starring role, hopefully the actress will be brought on board to play the orphanage director and child-hating drunk Miss Hannigan, played by Carol Burnett in the 1983 movie. Thompson is currently co-starring with Smith as Agent O in ‘Men in Black III.’

‘Glee’ creator Ryan Murphy was in line to direct, but has since moved on to other projects.