12/20/2011 01:45 pm ET Updated Feb 19, 2012

James Franco As Hugh Hefner In 'Lovelace': Star In Talks

Already an expert on the adult entertainment industry, James Franco looks set to play one of its modern day founders.

According to Variety, Franco is in talks to play Hugh Hefner in a small role in the upcoming biopic of former porn icon and "Deep Throat" star Linda Lovelace. Last year, Franco was reportedly in talks to play the lead male role, Lovelace's ex-husband and production manager Chuck Traynor, but that role is now going to be played by Peter Sarsgaard. While Kate Hudson was being eyed to play Lovelace back when Franco was in talks for Traynor, Amanda Seyfried is set to play the title character. Hank Azaria just signed on to play Jerry Damiano, the director of "Deep Throat."

The part would be a small one, involving a scene in which "Deep Throat," a seminal 1972 porn film that gained even more fame when it became part of the Watergate scandal lexicon, was screened at Hefner's Playboy Mansion.

This isn't the only porn biopic he's starring in, either. He takes a lead with Heather Graham in "Cherry," which is due out next year.

Franco is directing a documentary on the porn industry and the San Francisco production company, Kink.com. He's also already had his name next to Playboy in headlines earlier this year, when his interview with the magazine saw him comment on his Oscars performance, slam critics and talk about rumors about his sexuality.

For family audiences looking to see the Oscar-nominee on screen, he'll feature as the Wizard of Oz in the 2013 Disney prequel "Oz: The Great and Powerful." His adaptation of "The Broken Tower" will be released in 2012.

For more, click over to Variety.