'Green Lantern' finds its villain

Peter Sarsgaard to star opposite Ryan Reynolds in film

Peter Sarsgaard is in negotiations to play the villain in "Green Lantern," Warner Bros.' big-budget, Martin Campbell-directed tentpole based on the DC Comics superhero.

Ryan Reynolds is starring as Hal Jordan, the test pilot who finds a downed spacecraft with a dying alien who passes him a powerful ring, introducing Jordan to an interstellar police force known as the Green Lanterns.

Sarsgaard will play Dr. Hector Hammond, the pathologist son of a senator who is seen as a disappointment in his father's eyes. He becomes infused with psychic powers when he discovers a meteor.

The character was created by John Broome and Gil Kane in the early 1960s.

Blake Lively has already been cast as Reynolds' love interest, Carol Ferris.

The movie is prepping for a March start in New Orleans. Donald De Line and Greg Berlanti are producing.

Sarsgaard, who starred opposite Carey Mulligan in "An Education," recently wrapped "Knight and Day" with Tom Cruise and Cameron Diaz. The actor, repped by CAA and Authentic Talent and Literary Management, is shooting the indie thriller "The Ledge" with Terrence Howard and Evan Rachel Wood.