James Franco Not Making Movie About Lindsay Lohan After Casting Call Sparks Speculation

So does Franco really have plans for a film based on himself and Lohan? The actor shot down the speculation as fast as Lohan's career has plummeted.

However, the movie will be about two Hollywood celebrities, hence the need for actors who can be as charismatic as James Franco and Lindsay Lohan.

"We just put out a casting call for a Lindsay Lohan and James Franco type. People just saw the casting call and picked that up and made up a lot of stories about it," Franco told E! News at the Toronto Film Festival, where the "Pineapple Express" actor was premiering his independent film, "Spring Breakers."

Franco wouldn't dish on details of the planned movie.

"It's really a project that's really under the radar for now," he said coyly to E! News.

Speculation about a movie based on James Franco and Lindsay Lohan heated up last month when Franco put out the casting call.

The notice asked for "James Franco Types ages 13, 21, 30, 45, and 60" and ""Lindsay Lohan type ages 13, 21, 30, 45 and 60," according to E!

The network said the film was described as a "video/art project," the same area Franco dabbled in when he guest starred on "General Hospital" playing a fictional version of himself as part of an exhibit at Los Angeles' Museum of Contemporary Art, E! reported.

Lohan was dubbed as an up-and-coming star following her performances in "Mean Girls" and "Freaky Friday" in the early 2000s, but drugs and legal woes halted her meteoric rise.

Lilo is in the midst of a comeback, portraying Elizabeth Taylor in the Lifetime movie "Liz & Dick." The film is set to air Nov. 3.