Anne Hathaway & James Franco Confirmed To Host Oscars

UPDATE: James Franco and Anne Hathaways people have confirmed to Celebuzz that they will host the 83rd annual Academy Awards on February 27, 2011.

The stars’ reps tell Celebuzz that the two actors are confirmed as co-hosts for next year’s big night, marking the first time that either actor will host the award show.

Oscars producers Bruce Cohen and Don Mischer commented on the confirmation of James and Anne’s co-hosting gig in a press release from ABC.

“James Franco and Anne Hathaway personify the next generation of Hollywood icons — fresh, exciting and multi-talented,” the producers said, “We hope to create an Oscars broadcast that will both showcase their incredible talents and entertain the world on February 27.”

Deadline previously reports that the two stars have potentially accepted the hosting offer, but they still have to verify that they don’t have any prior commitments.

The two hosts will be a serious breath of fresh–and young–air for the Academy Awards. James, 32, and Anne, 28, are much younger than last year’s joint hosts, Alec Baldwin, 52, and Steve Martin, 65, and the two enjoy a healthy following amongst young fans.

One concern is that there may be a conflict if James is nominated for an Oscar for his highly-buzzed-about role in 127 Hours. While the nominations haven’t been announced yet, many critics were expecting James to land a nomination for his role. Check out the trailer below.

Hathaway was nominated for an Oscar in 2008 for her role in Rachel Getting Married. She also performed a musical number with host Hugh Jackman at the 2008 Academy Awards.

What do you think of Anne and James co-hosting the Oscars? Share your thoughts in the comments.