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OTRC: Meryl Streep, Julia Robert to play mother and daughter in 'August: Osage County'

Meryl Streep appears at the premiere of 'The Iron Lady' in December 2011. / Julia Roberts talks to OnTheRedCarpet.com about 'Fireflies in the Garden' at a Los Angeles premiere in November 2011. (The Weinstein Company)

Meryl Streep and Julia Roberts are set to star as a mother and daughter in the new film "August: Osage County," which is based on a dark, comedic play.

The film's production company and distributor, The Weinstein Company, announced the casting in a recent press release, which was obtained by OnTheRedCarpet.com. Streep, 62, had starred in the film's 2011 movie "The Iron Lady," which earned her an Oscar nomination.

"After seeing Meryl Streep's mesmerizing portrayal as Margaret Thatcher in 'The Iron Lady,' it has me even more excited and proud to co-star with her," Roberts, 44, said in the statement.

"August: Osage County" is based on the Pulitzer Prize and Tony Award-winning play by Tracy Letts, which debuted on Broadway in December 2007.

In the movie, Streep will play Violet, a prescription drug addict and matriarch of the Weston family. Roberts will portray her estranged adult daughter, Barbara. In the play, Violet's husband goes missing, which spurs her dysfunctional family to reunite at her home in Oklahoma to provide support.

The actress has never appeared in a live-action film with Roberts before. However, the two voiced characters in the 2006 animated movie "The Ant Bully."

Principal photography on "August: Osage County" is set to begin in the fall, The Weinstein Company said. The movie is tentatively scheduled to be released in 2013.

Streep won a BAFTA and Golden Globe for her performance in "The Iron Lady." She uttered an expletive during her speech at the Golden Globe Awards in January, spurring laughter from the audience.

Streep's Oscar nomination for "The Iron Lady" marks her 17th Academy Award nod.

She has put on a British accent to play Thatcher, the UK's first female prime minister. She also put on an accent for her previous Oscar-winning role as a Polish mother and survivor of a Nazi concentration camp in the 1982 film "Sophie's Choice." Streep won her first Academy Award in 1980, for the movie "Kramer vs. Kramer."

Roberts recently filmed "Mirror, Mirror," a comedy movie based on the story of Snow White. She plays the Evil Queen (watch the trailer). She is also set to appear in the 2014 film "The Normal Heart," a drama starring Jim Parsons from "The Big Bang Theory" that is about a gay activist who tries to raise awareness about HIV and AIDS during the 1980s.

Check out a full list of nominations for the 2012 Oscars.

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See moments in Oscar history on the interactive timeline available on the official Oscar.com website.

Oscar.com also hosts the official Oscar blog, which will feature red carpet fashion trends and tips from chef and lifestyle experts for hosting the best Oscar party.

Leading up to the ceremony, "On The Red Carpet" co-host Rachel Smith will be doing interviews with hair and fashion stylists and makeup artists for the "Best Dressed" video series featured on Oscar.com.

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Billy Crystal is returning to host the 84th annual Academy Awards. The ceremony will air live on Sunday, February 26, 2012 on ABC, OnTheRedCarpet.com's parent company.

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