Is there anything James Franco can’t do? The Oscar-nominated Oscar co-host appears in five feature films this year and is planning to direct two of the most-anticipated adaptations out there. Heat Vision reports we can add another project to the pile.

First there was Robert Downey Jr. Then there was Johnny Depp, who exited last night. Now Franco is in “early talks” to star in Sam Raimi‘s Oz, the Great and Powerful for Disney.

The prequel of sorts tells “the tale of a young illusionist with a grandiose attitude who is forced to flee a traveling circus. His hot air balloon is swept up by a tornado to the land of Oz, which is run by two magical wicked witches.”

While nothing is confirmed yet, if this match happens Franco would be reuniting with his Spider-Man director. Rabbit Hole screenwriter David Lindsay-Abaire is currently working on the script.

Oz, the Great and Powerful is a “high priority” for Disney with production to start in the second half of 2011.

What do you think about Franco reteaming with Raimi?

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