Megan to replace Lindsay for Elizabeth role?

Actress Lindsay Lohan now has a rival for the coveted role of Elizabeth Taylor in a Hollywood biopic about the late screen legend.

Megan Fox is now in the running to play the actress in the TV movie about her life and marriages to Richard Burton. Fox, 25, who bears a striking resemblance to a young Taylor, is understood to have already met with the producers of the film.

“I’ve been talking to Lindsay directly, and with her reps, and have been in conversations with other actresses, including Megan," said Larry Thompson, the executive producer of the film.

“It’s a very serious selection,” Thompson adds. “It’s like casting for Hollywood royalty.”

Lohan, 25, is said to be pinning her hopes on landing the role to spark her comeback after years of drink and drug abuse that wrecked her career.

The troubled actress got a glowing report today as she checked in for her probation status hearing.

Her probation extends to March and unless there is a setback she would be free to start filming in Canada in the Spring. But in a blow to Lohan, Thompson said the actresses probation could be a ‘complication.’ The film, to be called Elizabeth & Richard: A Love Story will chronicle Taylor’s romantic relationship with Burton.

Fox is in need of a high profile part following her sacking from the Transformers film franchise. The actress was dumped from Transformers 3 after she made derogatory comments about director Michael Bay. She will be seen next with Sascha Baron Cohen in the comedy The Dictator.