Anne Hathaway and James Franco to co-host the 2011 Oscars?

Yes, it's true and confirmed that actors' Anne Hathaway (Love and Other Drugs, Becoming Jane, The Devil Wears Prada, Princess Diaries) and James Franco (127 Hours, Eat Pray Love, Spider-man movies, Tristan & Isolde, James Dean)  co-hosting the 83rd Academy Awards, Oscar telecast on February 27, 2011! Quite an interesting and handsome pair! Love both Hathaway and Franco! They're both multi-talented actors and will surely be fun and interesting to watch come Oscars night in 2011!

Here's the official press release from the official Oscars website:

Franco, Hathaway to Host Oscar® Show

Beverly Hills, CA (November 29, 2010) – James Franco and Anne Hathaway will serve as co-hosts of the 83rd Academy Awards®, Oscar telecast producers Bruce Cohen and Don Mischer announced today. Both have previously appeared on the telecast but not in hosting capacities.

"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," said Cohen and Mischer. "We are completely thrilled that James and Anne will be joining forces with our brilliant creative team to do just that."

Franco, who currently can be seen in "127 Hours," will be making his second appearance on an Oscar telecast. His other film credits include "Eat, Pray, Love," "Date Night," "Milk" and "Pineapple Express." Franco is also known for his portrayals of Harry Osborn in the "Spider-Man" trilogy.

Hathaway will be making her fifth appearance on an Academy Awards telecast. She was recently seen in "Alice in Wonderland" and currently can be seen in "Love and Other Drugs." Hathaway's other film credits include "Bride Wars," "Becoming Jane," "The Devil Wears Prada" and "The Princess Diaries." She was nominated for an Oscar in 2008 for her lead performance in "Rachel Getting Married."

Academy Awards for outstanding film achievements of 2010 will be presented on Sunday, February 27, 2011, at the Kodak Theatre at Hollywood & Highland Center, and televised live on the ABC Television Network. The Oscar presentation also will be televised live in more than 200 countries worldwide.