Academy Award-nominated actor James Franco will be the subject of the next "Comedy Central Roast," the cable network announced Wednesday. The program will be shot in Los Angeles in August and premiere on Labor Day.

"If only James Franco [were] a more successful, multi-hyphenated, incessant creative risk-taker in different media, he'd be the perfect person to roast," Comedy Central programming executive Kent Alterman joked in a statement. "Oh well . . . I suppose we'll just have to make do."

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"I've dreamed about this 'Roast' for as long as I can remember," Franco said in the same statement. On his Twitter page Wednesday he posted, "Comedy Central Roast -- wsup" (i.e., "What's up?").

Comedy Central has aired 12 previous "Roast" specials, beginning with Denis Leary in 2003. The most recent, last year, roasted Roseanne Barr.

Franco, who earned an Oscar nomination for "127 Hours" (2010), next appears in a supporting role as Hugh Hefner in "Lovelace," scheduled for release Aug. 9.