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James Franco tackling Faulkner's The Sound and the Fury

James Franco is preparing to tackle a second film adaptation of William Faulkner's work after receiving favourable reviews for his take on the writer's acclaimed novel As I Lay Dying.

The star teamed up with his pal Matt Rager to adapt the story and it was warmly received when he unveiled the drama, which co-stars Danny McBride, at the Cannes Film Festival in France earlier this year (13).

He has now set his sights on turning Faulkner's 1929 classic The Sound and the Fury, about a family of Southern aristocrats who fall on hard times, into a film, which he plans to direct and star in, reports the Los Angeles Times.

Franco has already penned the script with Rager and he is hoping to recruit Mad Men star Jon Hamm to portray the family patriarch, Mr. Compson. McBride and Franco's actor brother Dave are also expected to be cast.

The star is keen to begin production on The Sound and the Fury this autumn (13), but admits there are still some funding issues to straighten out: "We're in pretty good shape (financially), but there are a few more things that have to happen before we're good."

The Sound and the Fury was last adapted for the big screen in 1959 by director Martin Ritt, with Yul Brynner in the lead role as Jason Compson.

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