Casting Net: James Franco to step behind and in front of the camera for 'Tabloid.' Plus: Dwayne Johnson, Ray Liotta

* James Franco is in the early stages of preparing to direct and star in an adaptation of James Ellroy's 1995 novel American Tabloid, about three members of law enforcement in the years leading up to the assassination of President John F. Kennedy. Nothing, however, is close to a firm deal. If you're about to say, "Hey, wait a minute, didn't Franco also recently line up Beautiful People, a biopic about famed hair stylist Jay Sebring, as his next acting-directing venture." [MTV]

* Dwayne Johnson will produce and possibly star in film with the working title of Teddy Bear, about a courageous stuffed animal who defends its owner from all manner of monsters. The project is based on an illustration by Alex Panagopoulous of that very thing — and it's pretty effing cool — but no writer or director are yet attached. [THR]

* Speaking of adorable creatures from childhood, Ray Liotta has joined the cast to the sequel of 2011's The Muppets, in an undisclosed role. He'll join Ricky Gervais, Tina Fey, and Ty Burrell. James Bobin is returning to direct the film, penned by Bobin and Nicholas Stoller. [Variety]

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