Franco's currently on a tour promoting a new documentary he produced "Kink", which is about world's largest producer of BDSM porn. He's also spreading the words about "Interior. Leather Bar.", a modern take on Pacino's gay-theme film "Cruising". It doesn't end there. Franco is on the calendar for a role as founder Hugh Hefner in a biopic called "Lovelace" about 70s porn actress Linda Lovelace.
Franco told MTV News that "in high school these girls got mad at me and so they spread this rumor that I was having a gay relationship with one of my closest friends". Franco went on to say "they even made up a little dance they would do in the girl's locker room about me being gay. I still don't know what the dance was".
But, the rumor back then and now don't phase him, he tells MTV: "It wasn't something that frightened me, like if people think that, it's fine. I really don't care."
Obviously Franco isn't afraid to talk about his sexuality, but he's still left one thing unsaid. Is he gay?