Rumored some time back, the story is now a reality as Variety is reporting that Columbia Pictures will do a new version of the 1984 hit 'The Karate Kid, which Jaden Smith as its star.

The film will be produced by Jerry Weintraub (who launched the original franchise) and Overbrook Entertainment's James Lassiter, Will Smith and Ken Stovitz. Will Smith, who is the 10-year-old actor's father, co-starred alongside Jaden in his feature debut, "The Pursuit of Happyness," which Overbrook and Escape Artists produced for Columbia.


The script is being written by Chris Murphy, and the film will shoot next year in Beijing and other cities. While the new film will be set in that exotic locale, it will borrow elements of the original plot, wherein a bullied youth learns to stand up for himself with the help of an eccentric mentor.

The younger Smith, who next stars in 'The Day the Earth Stood Still,' is a martial arts practitioner.