Detailing the making of The Room, widely considered one of the worst films of all time, James Franco is set to direct The Disaster Artist. New Line Film Productions is currently in negotiations to acquire the film package that follows the making of the 2003 'drama'.

Franco will be starring as Tommy Wiseau as well as directing himself, the same as Wiseau who doubled up for The Room also.

The original film was played in some small L.A. cinemas before being dumped due to lack of sales. Afterwards, Wiseau received requests by Laemmle's Sunset 5 for the film to be shown, where the film’s cult following was first formed.

Other than celebrity endorsements, the film was also promoted on a huge billboard in Hollywood overlooking Highland Avenue. The sign cost $300,000, and as typical with Wiseau, he refused to reveal the source of his seemingly bottomless wallet, having produced the film singlehandedly also.

The Room portrays a love triangle between a man, his fiancé and his best friend. Greg Sistero and Tom Bissell, who both star in The Room, penned the nonfiction book The Disaster Artist which follows the making of the film.

Seth Rogan is involved in the project, having acquired the book and life rights to The Disaster Artist through his production company Point Grey Pictures with Evan Goldberg, Vince Jolivette and Franco. Rogan is in talks to star in the film alongside Franco, having collaborated on many films together including Pineapple Express and This Is the End.