Cameron Diaz to Play Miss Hannigan in 'Annie'

Cameron Diaz
<p>The <em>Bad Teacher</em> actress made a huge profit of $34 million for her role in the 2011 comedy film with <strong>Jason Segel</strong> and <strong>Justin Timberlake</strong>.</p>   |   Alberto E. Rodriguez/Getty Images
Sandra Bullock was previously in talks to play the role.

Cameron Diaz has closed a deal to play Miss Hannigan in Annie, the update of the classic comic strip-turned-musical, Sony confirmed late Wednesday. The studio is making the project with producers Will Smith and Jay-Z.

Diaz will join Quvenzhane Wallis, who is on board to play the title character, and Jamie Foxx, who will play a modern incarnation of Daddy Warbucks, a billionaire named Benjamin Stacks.

Miss Hannigan is the mean lady who runs the orphanage where Annie lives with her friends.

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Sandra Bullock twice tap-danced around the role but no deal was ever made.

Carol Burnett memorably played the role in the 1982 movie.

Will Gluck is directing the project, which has a host of producers: Smith and his Overbrook Entertainment partners James Lassiter and Jada Pinkett-Smith are joined by Jay-Z, Jay Brown and Tyran “Ty Ty” Smith through Marcy Media.

Diaz is currently filming the Fox romantic comedy The Other Woman.