And the hosting duties for the 2011 Academy Awards go to...James Franco and Anne Hathaway. The two young actors were announced as the new hosts of the show, which will air February 27. Word has it that Oscar chiefs wanted to put a fresher, younger face on the show as a ploy to increase ratings. Last year's hosts, Alec Baldwin and Steve Martin, lightened things up with their comedic talent, but the show got mediocre ratings. Oscar producers Bruce Cohen and Don Mischer said, "James Franco and Anne Hathaway personify the next generation of Hollywood icon - fresh, exciting and multi-talented." But this year, the duo may go from host to nominee. Franco is getting Oscar buzz for his turn in the film 127 Hours, and Hathaway is hoping for a nod as she stars in Love and Other Drugs. Hathaway was nominated in 2008 for her lead performance in Rachel Getting Married.