The Insider.com

After months of casting rumors, Lindsay Lohan is now confirmed to star as Elizabeth Taylor in the Lifetime Original Movie Liz & Dick, based on the true story of Taylor's highly publicized, roller-coaster romance with actor Richard Burton.

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"I have always admired and had enormous respect for Elizabeth Taylor. She was not only an incredible actress but an amazing woman as well," Lindsay said in a statement. "I am very honored to have been asked to play this role."

"We are thrilled Lindsay will portray beloved Hollywood legend Elizabeth Taylor," added Rob Sharenow, Executive Vice President, Programming, of Lifetime Networks. "She is one of the rare actresses who possesses the talent, beauty and intrigue to capture the spirit of such a provocative icon."

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Principal photography on the movie is set to begin in early June in Los Angeles.