James Franco-helmed pic set for early 2011 release

Oscilloscope Laboratories has grabbed North American rights to James Franco-helmed doc “Saturday Night,” which chronicles the making of an episode of “Saturday Night Live.”

Movie, which bowed at SXSW this year, is set for a theatrical release in early 2011.

Inspired by Franco’s hosting gig on “SNL” in September 2008, docu follows the creation of a December 2008 episode hosted by John Malkovich.

Oscilloscope, the Gotham production company and distributor founded by Adam Yauch of the Beastie Boys, will release Franco topliner “Howl” later this month.

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