Jay-Z and Will Smith may be collaborating again.

After teaming to produce last year's critically acclaimed Broadway musical Fela!, the two rappers turned businessmen may be working together once more, this time on a remake of Annie, according to Variety. Smith's daughter, Willow, who is signed to Hov's Roc Nation, is said to be set to play the lead role, if the film does indeed get made. The flick would be remade through Sony.

Jay's role would reportedly be to collaborate on the music. As fans remember, his 1998 Grammy nominated single "Hard Knock Life (Ghetto Anthem)" sampled the original music from the play Annie.

As previously reported, Jay-Z is also in the process of opening new 40/40 Clubs in five major cities. —Adam Fleischer