The "Oz" role has been a hot one and was offered to Robert Downey Jr. two and a half weeks ago but he passed. It was also offered to Johnny Depp but he declined the offer last night.
Sam Raimi is signed on to direct the movie which tells the story of the young wizard, who is forced to flee a traveling circus but lands in Oz when his hot air balloon is swept up in a tornado. In the land of Oz, the illusionist is forced to compete with two witches for control.
But from acting pinned to a rock in "127 Hours" to a cameo as a drug lord in "Green Hornet" to his stint on the soap opera "General Hospital," Franco is showing he is not following anyone's playbook, but his own.
Sources caution that no dealmaking has begun and many issues would need to be ironed out, but if the stars align, Franco would be back working with Raimi for the first time since they collaborated on Sony's "Spider-Man" movies. At this stage, Franco hasn't met with Raimi to discuss the project.
While "Oz" doesn't have a start or release date, the production is a high priority for the studio, which hopes to start production in the second half of the year.
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