The Wrap reports that the Oscar winner is in talks to star as the cruel, drunk Miss Hannigan in the movie remake of "Annie" starring nine-year-old Quvenzhane Wallis of "Beasts of the Southern Wild."
The new version of the classic musical is being produced by Will Smith and Shawn "Jay-Z" Carter. The Daddy Warbucks role has been tweaked slightly; Jamie Foxx will play Benjamin Stacks, a wealthy New York City mayoral candidate.
With two Oscar winners and a nominee in the three biggest roles, "Annie" is already one of the highest-profile projects in Hollywood. It's expected to film this fall and hit theaters Christmas Day 2014.
As The Wrap notes, "Annie" is the rare movie musical to target African-American audiences. And if this year's Tony's are any indication, it could be a huge success (four of the eight acting awards went to African-Americans).
Smith's daughter, aspiring singer Willow, was originally set to star in the remake, but she reportedly turned her father down.
"We got Jay-Z to do the movie, got the studio to come in and Willow had such a difficult time on tour with 'Whip my Hair' and she said, 'You know Daddy, I don't think so,'" he said earlier this year.
"She looked at me and said, 'Daddy, I have a better idea, how about I just be 12.'"
[via The Wrap]