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Jamie Foxx in talks for Annie remake

Los Angeles - Jamie Foxx is in talks to star in Annie.

The Oscar winner has entered negotiations to play a variation of the classic Daddy Warbucks character in Sony Pictures' remake of the musical film, according to The Hollywood Reporter.

Foxx would star alongside Oscar-nominated actress Quvenzhane Wallis - who is set to play the titular character - playing the part of Benjamin Stacks, a man with enormous wealth who eventually takes in the spunky young orphan.

The musical will be directed by Easy A filmmaker Will Gluck and was written by Emma Thompson, best known for Nanny McPhee.

Will Smith - whose daughter Willow was originally set to star as Annie before dropping out of the role last year - will co-produce with Sony through his Overbrook Entertainment company along with wife Jada Pinkett-Smith, James Lassiter and rapper Jay-Z.

Jay-Z, who recently scored the soundtrack for Baz Luhrrman's hotly anticipated The Great Gatsby, is set to compose the film's score.

Foxx last starred in Quentin Tarantino's Oscar-winning Django Unchained and is currently filming The Amazing Spider-Man 2, in which he plays new villain Electro opposite Andrew Garfield's crime-fighting superhero.

Annie is set to be filmed later this year for a 2014 release.

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