Lindsay Lohan competing with Megan Fox for Elizabeth Taylor role

Lindsay Lohan is facing tough competition to play Hollywood legend Dame Elizabeth Taylor on TV - Megan Fox is also in the running for the role.

Fans of the Cat On A Hot Tin Roof icon were surprised when the troubled Mean Girls star was named as one of the frontrunners to play her in the Lifetime network biopic, which will focus on Elizabeth Taylor's love affair with Richard Burton.

Now executive producer Larry Thompson has revealed he has also been in talks with Megan Fox about the sought-after part.

He tells E! News, "I've been talking to Lindsay Lohan directly, and with her reps, and have been in conversations with other actresses, including Megan Fox.

"It's a very serious selection. It's like casting for Hollywood royalty."