James Franco, Anne Hathaway on Hosting Hollywood's Big Night

Photo Courtesy - ABC News(LOS ANGELES) -- James Franco and Anne Hathaway, now in the midst of prepping for Sunday's Academy Awards, said they originally turned down the offer to host Hollywood's biggest night.

"I never thought that I'd be asked to host the Oscars. I was honored--honored, but I just thought, no, I got to say no," James Franco told ABC News’ Robin Roberts in an interview aired Friday.

"When I got asked to do it ... I said, "No, thank you, I don't think is really for me," Anne Hathaway said. "And then they called back a couple weeks later and said, 'Well, James Franco's in.' And I said, 'Ooh, that's going to be interesting.'"

Franco, 32, is nominated for his first Oscar for his performance in 127 Hours, the riveting story of a daredevil mountain climber's desperate fight for survival. Hathaway, 28, is the youngest Oscar host ever. She was previously nominated in 2008 for her performance in Rachel Getting Married.

Those behind the awards show hope having young, bright stars like Franco and Hathaway will draw younger viewers this year.

"I felt a lot of the previous hosts were quite relevant. But the young and hip seemed to be the buzz words that keep getting thrown around. I'm trying to figure out which one I am," Hathaway joked.

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