Comedy Central is rolling out the red carpet for the multi-hyphenated and extremely talented James Franco. The network announced today that Franco will be adding a new moniker to his ever growing list of accomplishments as this year's Roastee. The Comedy Central Roast Of James Franco (#FrancoRoast) will tape in Los Angeles in August and premiere on Labor Day. Here is a special video announcement from the actor himself.

Kent Alterman, President, Content Development & Original Programming of Comedy Central made the following statement.

"If only James Franco was a more successful, multi-hyphenated, incessant creative risk taker in different media, he'd be the perfect person to roast. Oh well... I suppose we'll just have to make do."

"I've dreamed about this Comedy Central Roast for as long as I can remember."

In addition to the Comedy Central Roast, Comedy Central has acquired the exclusive digital rights to the James Franco-directed documentary Francophrenia. The 90-minute program gives fans a front-row seat to James Franco's experience during his stint on "General Hospital." Francophrenia will debut on Comedy Central's digital and VOD platforms after the network airing of Comedy Central Roast Of James Franco.