According to Variety, those rumors have now been put to rest: Yes, there will be a remake and the star will be none other than Will Smith’s son Jaden.
The film, which is scheduled to begin shooting next year in Beijing, China, will keep the plot of the original classic, and will be produced by Smith’s Overbrook Entertainment company, and the film’s original series launcher, Jerry Weintraub. Chris Murphy, the film’s original screenwriter, will pen the new version.
Jaden Smith is best known as the charismatic 10-year-old who co-starred alongside Smith in the 2006 film The Pursuit of Happyness.

Film will be co-produced by Will Smith
The newly-reunited Labelle – Sarah Dash, Nona Hendryx and Patti LaBelle – will kick off their first national tour since 1977 at Harlem’s Apollo Theater in support of their new album “Back to Now.”
Rev. Al Sharpton has signed for an upcoming roast of Cheech Marin and Tommy Chong of the comedy duo Cheech & Chong. Sharpton joins fellow roasters Steve Carell, Andy Dick, Tom Arnold, Geraldo Rivera, Penn & Teller, Wilmer Valderrama and Greg Giraldo for the Nov. 21 event, to be taped at Caesars Palace at the Comedy Festival in Las Vegas. TBS will air the roast in a special set to air Nov. 30 at 10 p.m.
An autopsy on the Paula Abdul fan discovered dead in her car outside of the entertainer’s Beverly Hills home last week has been conducted, but an official cause of death is on hold until toxicology tests can be completed.
LL Cool J, Mariah Carey and Taylor Swift will serve as co-hosts of the first-ever one-hour special to announce the 2008 nominations for Grammy Awards.
Halle Berry, Diahann Carroll, Gina Prince-Bythewood and Taraji P. Henson were announced as honorees for the second annual Essence Black Women in Hollywood Luncheon, to be held Feb. 19 at the Beverly Hills Hotel.
During a visit to Baltimore’s Bethel AME Church Sunday, Rev. Jesse Jackson said the election of U.S. President-elect Barack Obama is cause for celebration but that “substance” must follow.
Actress Rashida Jones, who had a role on “The Office” for a year, was just hired by that show’s creators and NBC to star in the spinoff that will be headed by “Saturday Night Live” veteran Amy Poehler, reports the New York Post.