[twitter=jayz]Jay-Z[/twitter] teams up with Mr. and Mrs. Smith in a joint  venture to develop and produce films. Their first project is set to star Willow Smith in the Annie remake.

Will and Jada have worked with Hov on a line of beauty products, as well as the Broadway musical Fela!. Their daughter Willow is  also signed to Jay-Z’s Roc Nation roster.

Jay-Z, in his own words:

The Overbrook Entertainment family and I have a unified vision. We’ve already produced a Tony Award winning play and we’re developing a true superstar in Willow. This venture into film development and production is a perfect next step with teams that are accomplished, creative, and innovative.