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Fox would play the love interest of Franco's character while Rogen will be his 'cigar-chomping' mentor.
Franco directed and starred in an adaptation of William Faulkner's novel about the downfall of the Compsons family.
The 11-year-old actress reportedly lands the role of a girl who sees her family killed by the evil witch Evanora in the Sam Raimi-directed movie.
The two lead actresses were inseparable on the orange carpet of the July 20 event before joined by co-stars Bridget Moynahan and Hutch Dano.
The 18-year-old actor spent his time with the movie's stars, Selena, Joey King, Hutch Dano and Jason Spevack, when they filmed in Vancouver earlier this year.