Director David Cromer said on Wednesday that negotiations are under way in hopes to get Franco to join Kidman in a Broadway production of "Sweet Bird of Youth" later this year.
Cromer said producers, including Scott Rudin, had signed Kidman but are still in talks with Franco, though the actor has expressed interest. "They're still working on the schedule," he said.
Franco, who is up for an Oscar for his role in "127 Hours," would be making his Broadway debut.
Franco's schedule is very busy. He will be making a brief return to "General Hospital" later this month and he has seven films in the works.
But right now he's focusing on his co-hosting role at the Oscars, along with actress Anne Hathaway. Oscar producer Bruce Cohen said producers are more than thrilled with what they're seeing from the two actors.