James and Dave Franco's 'The Disaster Artist' Sketches a Deal at New Line

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New Line is in negotiations to pick up the rights for James and Dave Franco‘s “The Disaster Artist,” an individual with knowledge of the project told TheWrap.

James Franco will direct, based on a script written by Tom Bissell and Scott Neustadter.

The film will take a fun, in-depth look at how filmmaker Tommy Wiseau came up with the idea for the cult movie “The Room,” which has been declared by many critics as one of the worst films ever made.

Also Read: James Franco Hires 'Fault In Our Stars' Writers for Tommy Wiseau Movie

James Franco will play Wiseau, and Dave Franco will star as Greg Sestero, who costarred in “The Room.” “The Disaster Artist” details Sestero’s involvement in the making of the film.

Franco’s production company Rabbit Bandini is producing alongside Seth Rogen and Evan Goldberg‘s Point Grey banner and Good Universe, whose Erin Westerman is overseeing the project for the company.

Also Read: Seth Rogen: James Franco Might Play Tommy Wiseau in Film About 'The Room'

Rabbit Bandini also produced Franco’s “Zeroville,” in which he stars alongside Seth Rogen, Megan Fox, Joey King, Jacki Weaver, Dave Franco, Danny McBride and Craig Robinson. It it set for a 2016 release.

25 Shades of James Franco - His Most Bizarre, Funniest and Sexiest Instagrams (Photos)

Bed selfie. (Is the internet sick of them yet? Judging by the "likes", Apparently not.)
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Franco posts then quickly deletes this nearly-naked photo to Instagram sparking a social media frenzy
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No doubt -- even in character as "Spring Breakers" Riff Raff, James Franco could still get a lot of posse.
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Good morning world.
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Flashback of a young Franco and Jason Segel.
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Bed Selfie!
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Charming and cheeky - Franco defaces the "Bates Motel" sign.
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Even men need beauty rest and James Franco isn't afraid to admit it.
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James Franco steps up his bed-selfie game with help from "Pretty Little Liars" bud Keegan Allen.
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When Franco posted this pic, we weren't exactly sure what was going on here either.
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Bromance Alert: Seth Rogen and James Franco's outdo their Kimye music video parody with a Vogue Magazine spoof.
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Blurred Lines? Franco turns the tables on female objectification. Honorable yet odd.
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James Franco shows off his pineapple express in tights, white tights. 'Nuff said.
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James Dean Franco
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James Franco actor, writer, director and zoo keeper?
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James Franco dresses in drag for Candy's ad.
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Barbie doll selfie! Franco with his character from "Oz: The Great and Powerful." Inanimate photography is officially cool.
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James Franco channels inner dork Napoleon Dynamite.
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James Franco shows us his serious side with a dead-panned camera glare.
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Franco selfies himself in front of a light blub calling it "James Franco has an idea."
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"But first let me take a selfie"
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Franco photographs young girls on a shoot he calls "Romeo and Juilet."
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Franco reveals grand-master painting
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What would James Franco be without the occasional Instagram foodie post? Pre-Oscar Hamburger, anyone?
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Actor, painter, musician and show-off, Franco is the King of the World! - er - Instagram!
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The multi-hypenate sparked a social media frenzy when he posted — then deleted — a racy shot to Instagram, TheWrap picks some of his most provocative shots yet

Bed selfie. (Is the internet sick of them yet? Judging by the "likes", Apparently not.)

View In Gallery

25 Shades of James Franco - His Most Bizarre, Funniest and Sexiest Instagrams (Photos)

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