Franco, Hathaway Tapped for Oscars

James Franco and Anne Hathaway have been confirmed as cohosts of the 83rd Academy Awards.

"James Franco and Anne Hathaway personify the next generation of Hollywood icons-- fresh, exciting and multi-talented. We hope to create an Oscar broadcast that will both showcase their incredible talents and entertain the world on February 27," producers Bruce Cohen and Don Mischer said in a statement released to the press."We are completely thrilled that James and Anne will be joining forces with our brilliant creative team to do just that."

Both Franco and Hathaway are possible nominees for their acclaimed performances in the films 127 Hours and Love and Other Drugs, respectively. Both actors also have significant gay followings due to roles in LGBT-themed projects. Franco has appeared in the films James Dean, Milk, and Howl, while Hathaway costarred in Brokeback Mountain.

Nominations will be announced on January 25, 2011. The awards will be presented on February 27 at the Kodak Theatre in Hollywood and televised live on ABC.