Oscilloscope acquires 'Saturday Night' doc

2:16 PM PDT 10/14/2010 by Gregg Kilday, AP

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James Franco film is on the making of an 'SNL' episode

TORONTO -- Oscilloscope Laboratories has acquired North American rights to James Franco's directorial debut, "Saturday Night," a documentary which recounts the making of an episode of "Saturday Night Live."

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Franco's latest film "127 Hours," in which he stars as mountain climber Aron Ralston, has its official world premiere Sunday night at the Toronto International Film Festival after a successful sneak screening at the Telluride Film Festival last weekend.

In the meantime, the actor is brushing up his bona fides as a filmmaker with "Saturday," which premiered at the 2010 SXSW Film Festival and will be released in theaters in early 2011.

The doc follows the week-long creation of a "Saturday Night Live" episode guest-hosted by John Malkovich.

Oscilloscope head Adam Yauch issued an enthusiastic thumbs-up about the film, saying, "SNL is my mother fuckin' shit, and James is my mother fuckin' man. But I don't know if we've met. James, have we met?"

"Saturday" was produced by Miles Levy and Vince Jolivette of Rabbit Bandini, and Franco said, "We met in my dreams. Adam Yauch has been an inspiration since I was sixteen. Everyone at Rabbit Bandini is extremely excited to be working with Oscilloscope, one of the coolest companies in the industry."