Variety is reporting that Christoph Waltz, who won the “Best Actor Award” at the Cannes Film Festival for his brilliant portrayal of a Nazi officer in Quentin Tarantino’s Inglourious Basterds, has joined the cast of The Green Hornet.  The Austrian actor will portray Chudnofsky, an L.A. crime boss who is attempting to unite the city’s various gangs under his own leadership.  He joins a cast that includes Seth Rogen (who also co-wrote the screenplay) as the eponymous hero, Asian pop star Jay Chou as his martial arts-enabled sidekick Kato, and Cameron Diaz as the Hornet’s love interest.

Waltz represents a considerable upgrade over Nicolas Cage, who was until recently in talks with Columbia pictures to join the cast, but could not reach a deal (see “Nick Cage Off Green Hornet”).  Shooting on The Green Hornet, which is being directed by Michel Gondry, has already begun. According to Variety, Columbia has moved the release date of The Green Hornet from next summer to December 17th, 2010.