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OTRC: Anne Hathaway, James Franco to co-host 2011 Academy Awards

Anne Hathaway talks to OnTheRedCarpet.com about buying fluorescent bras for her 'Love and Other Drugs' character at the premiere for the film in November 2010.

Anne Hathaway and James Franco are set to host the 83rd Academy Awards, whose telecast airs live on ABC from the Kodak Theatre in Los Angeles on Feb. 27, 2011, organizers said on Monday.

Hathaway, a 28-year-old actress, rose to fame with the film "The Princess Diaries" and later starred in the Meryl Streep movie "The Devil Wears Prada" as well as the new film "Love and Other Drugs" with Jake Gyllenhaal.

Franco, 32, became famous due to his role in the late 1990s series "Freaks and Geeks" and later played Harry Osborn in the "Spider-Man" films and "Franco' in the soap opera "General Hospital".

He can currently be seen in the new film "127 Hours", which tells of the real story of an American hiker who cuts off his own arm after getting it trapped under a boulder.

"James Franco and Anne Hathaway personify the next generation of Hollywood icons - fresh, exciting and multi-talented," Oscar telecast producers Bruce Cohen and Don Mischer said in a statement provided by the Academy of Motion Picture Arts and Sciences.

"We hope to create an Oscar broadcast that will both showcase their incredible talents and entertain the world on February 27," they said. "We are completely thrilled that James and Anne will be joining forces with our brilliant creative team to do just that."

Hathaway was nominated for an Oscar in 2009 for her leading part in the film "Rachel Getting Marries". Franco has never been nominated for an Academy Award but he did win the Golden Globe Award in 2002 for his role in the miniseries "James Dean" and was nominated for one in 2009 for his part in the comedy movie "Pineapple Express".

Hathaway was also recently confirmed to co-host the 2010 Nobel Peace Prize concert in Oslo, Norway along with actor Denzel Washington.

The nominations for the 2011 Academy Awards will be announced at 8:30 a.m. ET on Jan. 25, 2011.

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