He told E! News : "I have been and am in conversations with Lindsay Lohan and her representatives as well as other actresses and their respective agents regarding playing the role of Hollywood's Royalty, Elizabeth Taylor.”
Even though Thompson said that she is one of the frontrunners, he admitted that her probation status is "a complication."
But Lohan is not the only one who has been approached for the role. Thompson said he has: “Been in conversations with other actresses, including Megan Fox.”
Two-time Oscar champ, Liz Taylor died at age 79 on March 23, 2011 from congestive heart failure.
check out our Elizabeth Taylor gallery tribute.
Who do you think would play Liz Taylor best?