Cameron Diaz In AnnieEXCLUSIVE: I’ve learned that Sony’s Columbia Pictures just concluded the negotiations with Cameron Diaz today for the updated moppet movie musical starting production in the fall for a Christmas 2014 release. Sandra Bullock had been in talks for the role in Annie but pulled out recently. Beasts Of The Southern Wild‘s Quvenzhane Wallis, who became the youngest actress ever to receive a Best Actress Oscar nomination, is on board to play the iconic orphan, and Best Actor Oscar winner for Ray, Jamie Foxx, is Daddy Warbucks in the classic comic strip-turned-musical being produced by Will Smith and Jay-Z and directed by Will Gluck. I think Diaz is an inspired choice to play the mean lady who runs the orphanage after the actress strutted her nasty in Sony’s Bad Teacher and a few other choice roles.

Related: ‘Annie’ Release Set For Christmas Day 2014