Cameron Diaz is officially a go for the Annie remake due out next year. Sony announced that the star inked a deal yesterday to play the role once played by Carol Burnett.

Sandra Bullock is out and Cameron Diaz is in. Diaz will be playing Miss Hannigan, the smarmy, angry woman who runs the orphanage Annie lives in. Hannigan is the one behind that whole “hard-knock life” thing we hear so much about.

Bullock was in talks (twice) to play the role, but officially bowed out last week. Another star in contention was Kristen Wiig.

Diaz will be joining 9-year-old Oscar nominee Quevenzhane Wallis (Beasts of the Southern Wild)and Oscar winner Jamie Foxx. Wallis is attached to play the title role, while Foxx will be playing a version of Daddy Warbucks, named Benjamin Stacks.

Judging from Foxx’s character name, it looks like we’re in for a modern update of Annie’s story. A modern take is especially likely with Jay-z, Will Smith and Jada Pinkett Smith producing the movie.

Will and Jada’s daughter Willow was attached to play the lead at one time, but reportedly felt she outgrew the part.

If you somehow escaped childhood without seeing Annie on stage or film, it tells the story of a young orphan who escapes her less than desirable New York orphanage and finds herself in the home of a millionaire (Warbucks, er, Stacks).

The original 1982 film adaptation starred Carol Burnett and Albert Finney. A TV movie was made in 1999 starring Kathy Bates and Victor Garbor.

The musical that inspired the films has enjoyed successful runs on and off Broadway since 1977. Jane Lynch is currently playing the role of Miss Hannigan on Broadway.

Will Gluck will follow the likes of John Huston and Rob Marshall as director of this latest adaptation.

The project, which is still in development, is eyeing a 2014 release on Christmas day.

Do you think Diaz makes a good Hannigan ?