Anne Hathaway, James Franco Chosen as Co-Hosts for Academy Awards Telecast

Actors Anne Hathaway and James Franco will co-host the 83rd Academy Awards telecast as Walt Disney Co.’s ABC seeks to increase ratings for a third year.

The 2011 Oscars ceremony will be broadcast live from the Kodak Theatre in Hollywood on Feb. 27, the Academy of Motion Picture Arts & Sciences said today in an e-mailed statement.

The academy and ABC are looking to continue growth that began with the 2009 show, when 36.3 million viewers tuned in to see “Slumdog Millionaire” win the best-picture Oscar. The 2010 telecast rose to 41.7 million with Steve Martin and Alec Baldwin as hosts and “The Hurt Locker” taking the best-movie award.

Franco is the star of “127 Hours,” director Danny Boyle’s drama based on the true story of a hiker who amputates his own arm after becoming trapped in a remote desert canyon. Hathaway’s “Love and Other Drugs,” about a woman who falls in love with a pharmaceuticals salesman, played by Jake Gyllenhaal, also is in theaters.

Oscar nominations will be announced on Jan. 25 in Beverly Hills, California.

Disney, based in Burbank, California, fell 28 cents to $36.42 at 4 p.m. in New York Stock Exchange composite trading. The shares have gained 13 percent this year.

To contact the reporter on this story: Michael White in Los Angeles at mwhite8@bloomberg.net

To contact the editor responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net

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