James Franco's Not Releasing an EP: "That's Misinformation"

Despite reports indicating that James Franco was coming out as musician, James refuted those rumors at last night's amfAR Inspiration Gala in NYC.

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The Los Angeles Times reported that James was coming out with an EP entitled "Turn It Up" with New York performance artist Kalup Linzy.

James told reporters at the gala (where he was being honored) last night that despite his work with Kalup in the past, everyone had their information wrong.

"That’s misinformation. That’s not my EP. Kalup Linzy is doing the EP, I think I do some spoken word on it, but that is not my EP. I’ve worked with Kalup before but I’m not doing it now."

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One of James' definite projects is an upcoming film, however, called Cherry. He tells OK!, "That's a one-day shoot. I haven't done it yet." He's also still working toward his PhD at Yale, although not at present, he says, because it's summer.