It’s official! LiLo will play Liz Taylor in a new biopic.

It was confirmed Monday that she will play the icon in the Lifetime TV movie ‘Liz & Dick’.

‘Liz & Dick’ is based on the true story of Taylor’s roller coaster romance with actor Richard Burton. Lohan has said in a statement…

“I have always admired and had enormous respect for Elizabeth Taylor. She was not only an incredible actress but an amazing woman as well. I am very honored to have been asked to play this role.”

Rumors of Lohan’s casting in the movie first surfaced in January 2012. Following this weeks announcement, Lifetime executive VP of programming Rob Sharenow says…

“We are thrilled Lindsay will portray beloved Hollywood legend Elizabeth Taylor. She is one of the rare actresses who possesses the talent, beauty and intrigue to capture the spirit of such a provocative icon.”

Lohan was taken off probation from her 2007 Beverly Hills DUI case on March 29. Though that case is now behind her, She will remain on her probation for her necklace theft until May 24, 2014.

Liz & Dick is set to begin filming in early June in Los Angeles.

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