The never-ending quest of James Franco doing awesome things continues, as this year's Oscar host has officially landed his next big assignment as the Wizard of Oz.

Franco has closed his deal to take on the starring role in "Oz the Great and Powerful," a move that reunites him with "Spider-Man" director Sam Raimi. Deadline reports that Franco will shoot "Oz" this summer between the Noah Baumbach-directed "While We Were Young" and David Cromer's "Sweet Bird of Youth," based on the Tennessee Williams play.

There are more headlines to sift through today, so click those ruby slippers past the jump to read about the new censored version of "The King's Speech," "Prometheus" casting news and more!

The King's Censored Speech

Tom Hooper's biopic about the stammering King George VI will likely be a major Oscar-winner in just a few short days, but which film will that award represent: Hooper's originally intended vision, or the censored version? THR reports that the MPAA has given its blessing to a recut version of "The King's Speech" toned down from its original R- to a PG-13 rating. The Weinstein Company is withdrawing the R-rated version from theaters.

"Prometheus" Grows

The Daily Mail has news on three new actors joining the cast of "Prometheus." According to them, Idris Elba, Sean Harris and Kate Dickie have all signed on to star opposite Noomi Rapace, Charlize Theron and Michael Fassbender. Screenwriter Damon Lindelof seems to have confirmed the Elba bit in a recent tweet.

"Kill Bill," For Real This Time

Quentin Tarantino is programming the entire month of March at the New Beverly in California, and Ain't It Cool News reports that Tarantino's plans include the long-awaited release of "Kill Bill: The Whole Bloody Affair." The film will play for one week starting March 27, marrying both parts of "Kill Bill" into the one big movie it was originally intended to be.

"Ted" Soup

Add another name to the ever-growing list of actors on board for "Ted," Seth MacFarlane's first live-action feature film. "The Soup" host and "Community" star Joel McHale is on board to play a sleazy boss who constantly hits on his employee, played by Mila Kunis.

Obi-Wan The Giant Killer

Ewan McGregor is returning to the world of big budget blockbuster fare with a starring role in "Jack the Giant Killer." Heat Vision reports that McGregor will play the leader of the king's elite guard, helping Jack in his fight against the giants.

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