It's really all about artistic collaboration. "I was talking to this artist that I collaborate with a lot," Franco told us, "and it just kind of came, as a lot of our ideas do...What about Three's Company, the Drama? And it was just kinda like a lightbulb, and we both said 'Yes!'"
"And then...Sundance called in the summer and said 'Do you have any pieces?' And so I kind of put those ideas together and I thought this would be perfect. I mean, especially because you never expect Three's Company to be at Sundance," he said.
In typical Franco fashion, the documentary is far from the only project on his plate this year. Also on the busy thesp's schedule is playing the part of cohost for the 2011 Academy Awards. He's on his way to becoming the busiest man in show business.
Check out the video to hear more about Franco's new project and why he's so excited to be a part of the Academy Awards.