Will Smith has signed on to replace Hugh Jackman in the new drama Collateral Beauty for Anonymous Content, PalmStar and Likely Story. Hugh Jackman backed out of the project last month, with Deadline reporting at the time that the filmmakers were going after Johnny Depp to replace him. That isn't happening anymore, with Will Smith now on board to star.

The story centers on a New York advertising executive who suffers a terrible personal tragedy that sends him into a funk. When his co-workers come up with an unorthodox plan to get him out of this depressive state, it works in ways they couldn't have possibly fathomed. Rooney Mara and Jason Segel are also attached to star, although no details were revealed regarding their roles.

Alfonso Gomez-Rejon, who directed this summer's indie hit Me and Earl and the Dying Girl, is directing from a screenplay by Allan Loeb (Here Comes the Boom). Anonymous Content's Michael Sugar and Bard Dorros are producing alongside PalmStar CEO Kevin Scott Frakes, which is providing the financing. PalmStar paid a whopping $2.25 million for Allan Loeb's script, with production set to begin in October.

Related: Collateral Beauty Trailer Has Will Smith Meeting Death, Time & Love

Hugh Jackman was forced to drop out of the project due to scheduling conflicts with the upcoming Wolverine 3. Will Smith is currently filming Suicide Squad in Toronto. Warner Bros.' upcoming superhero movie is scheduled to shoot until mid-September, with a cast including Margot Robbie, Cara Delevingne, Jai Courtney, Jared Leto, Joel Kinnaman and Viola Davis. The actor also has the drama Concussion hitting theaters on Christmas Day.

It isn't known how many other supporting roles are needed to be filled out before Collateral Beauty starts shooting this fall, but with Will Smith now on board, this could shape up to be an all-star cast. Hopefully we'll get more plot details as we get closer to production starting up, but until then, what do you think about Will Smith joining this project? Let us know what you think, and stay tuned for more on Collateral Beauty.