James Franco and Anne Hathaway to Co-Host Academy Awards

James Franco and Anne Hathaway will co-host the 83rd Academy Awards, Oscar producers Bruce Cohen and Don Mischer announced Monday.

"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 Feb. 27," Cohen and Mischer said in a statement.

Franco has been receiving Oscar buzz for his role in 127 Hours, in which he plays real-life climber Aron Ralston, who cut off his right arm to free himself after his arm was trapped by a boulder.

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