Kevin Mazur, WireImage for Clear Channel
Will Smith, who produced last year's $350 million-earning 'The Karate Kid' starring his son Jaden, is talking with Sony about producing the film through his Overbrook Entertainment. The company has produced flicks starring Will since 2001 including 'Ali,' 'I, Robot,' 'I Am Legend,' 'Seven Pounds' and the upcoming 'Harriet the Spy: Making New Friends.'
Though Jay-Z is yet to sign on for the developing project, it would be full circle for the rapper, who sampled 'It's the Hard Knock Life' from the musical on his 1998 hit 'Hard Knock Life (Ghetto Anthem).' Sources are remaining tight-lipped on whether or not the songs will be updated for the pic or if Hov will helm an entirely new score.
In the meantime, Willow is focusing on her music career following the success of her breakout single 'Whip My Hair.' The pre-teen starlet is currently putting in studio time to record her first full-length album.
Watch Willow Smith's 'Whip My Hair'