Busy actor James Franco has sealed the deal to portray Oz in Oz: The Great and Powerful for Disney and director Sam Raimi. We reported last week that James Franco will star alongside Mila Kunis, who is playing the Wicked Witch of the West, Theodora.

Oz: The Great and Powerful will delve into the origin stories of the classic characters from The Wizard of Oz, such as Oz (James Franco), Glinda the Good Witch of the North, Evanorah, the Wicked Witch of the East, and her sister, Theodorah, the Wicked Witch of the West (Mila Kunis).

Sam Raimi will direct Oz: The Great and Powerful from a screenplay by David Lindsay-Abaire, with Joe Roth producing. It is said that Disney was trying to get the budget down to $200 million, and now it seems they succeeded.

Production will start on Oz: The Great and Powerful in July.