The play centers on Alexandra Del Lago (to be played by Kidman), a faded movie star who occupies a hotel room with a young man, Chance Wayne (to be played by Franco), who hopes the actress can help him break into the movies.
Kidman starred on Broadway in The Blue Room. She won the Academy Award for The Hours and recently co-starred in the film versions of Rabbit Hole, for which she has received an Oscar nomination, and Nine.
Franco, who will co-host this year's Academy Awards, received a Best Actor nomination for 127 Hours.
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