Bryan Cranston, Elizabeth Olsen in Talks for Darabont's GODZILLA

According to Variety, Bryan Cranston and Elizabeth Olsen have officially entered talks to join Legendary Pictures' GODZILLA remake.

As of now, no plot details or character descriptions have been made available.

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Legendary is backing the film along with Warner Brothers, with Frank Darabont penning the script. The studios have settled on a May 16th, 2014 release date for the upcoming reboot, which will incorporate 3D technology. The project has been in the works for quite some time and movie fans even got a sneak peek at a trailer for the film at this year's Comic-Con.

In an official announcement from Warner Brothers, the studio said that the Godzilla franchise "contains one of the most widely recognized movie monsters worldwide, including more than 25 films, multiple television programs, video games and book series. Legendary, which has been developing the project, and Warner Bros. will return the character to its epic roots with a gritty, realistic actioner."

Gareth Edwards is set to direct the project which will "return the character to its epic roots with a gritty, realistic actioner".

Cranston is now best known for his award-winning performance on BREAKING BAD, as well as the recent Oscar-nominated film ARGO.

Olsen is best known for her indie roles, including MARTHA MARCY MAY MARLENE and the upcoming KILL YOUR DARLINGS alongside Daniel Radcliffe.