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James Franco, Anne Hathaway To Host 83rd Annual Oscars

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The Academy of Motion Picture Arts & Sciences has asked James Franco and Anne Hathaway to co-host the 83rd annual Academy Awards, according to an official Academy press release.

Both youngsters are currently starring in Fox features (Franco in Searchlight's 127 Hours, Hathaway in big Fox's Love And Other Drugs) and Franco is likely to be Oscarly nominated for Best Actor.

The Princess Wears Prada will be making her fifth appearance on an Academy Awards telecast. She was previously nominated for an Oscar in 2008 for her performance in "Rachel Getting Married." Spiderman Express will be making his second appearance.

Oscar telecast producers Bruce Cohen and Don Mischer made the announcement earlier today, "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."