No James Franco Grad Speech

James Franco will be making a group of students happy at UCLA, as he's backed out of giving the keynote speech at this year's graduation ceremony, TMZ reports.

James said in a statement: "I deeply regret not being able to keep my commitment to giving the commencement speech at UCLA's graduation this year.

Unfortunately the date conflicts with me needing to be on location to begin pre-production on my next film. I wish everyone in the 2009 class the best of luck in all of their future endeavors."