IGN Movies has been informed by a reliable source that Sony Pictures is developing a remake of The Karate Kid that will be produced by Will Smith’s Overbook Entertainment and Jerry Weintraub.

Will’s 9-year-old son Jaden Christopher Syre Smith (”The Pursuit of Happyness”) is apparently attached to star in the remake. This new Karate Kid is currently out to writers. Weintraub also produced the 1984 film, starring Ralph Macchio and Pat Morita, and its three sequels.