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    Anne Hathaway and James Franco Hosting the Oscars

    Anne Hathaway, James Franco Dimitrios Kambouris/WireImage.com; Valerie Macon/Getty Images

    UPDATE: It's official! The Academy of Motion Picture Arts and Sciences just announced that Anne Hathaway and James Franco will cohost the 83rd Academy Awards on Feb. 27.

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    Anne Hathaway and James Franco, come on down.

    You're the next hosts of the...

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    Oscars!

    Sources just confirmed to me a report that the two stars are thisclose to officially being named the hosts of the upcoming Academy Awards. An official announcement could be happening later this morning.

    Alec Baldwin and Steve Martin hosted the big night last year.

    Hathaway, who costars opposite Jake Gyllenhaal in the just released Love and Other Drugs, was nominated for an Oscar for Best Actress for her work in Rachel Getting Married and performed a song and dance routine at the show two years ago with host Hugh Jackman.

    Franco, whose resume includes everything from stints on General Hospital to his recently released book of short stories Palo Alto, is likely to be nominated for an Oscar this year for his work in director Danny Boyle's 127 Hours.

    Reps for the Academy and the two stars did not immediately comment.

    Now we want to know what you think of Hathaway and Franco as Oscar cohosts! Sound off below.

    MORE: James Franco Cut Off Arm Because of General Hospital

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