James Franco is "in a dark place" after being cut from the Vanity Fair front cover, and being snubbed by the Oscars.
The 39-year-old actor originally had a spot on the cover of the magazine's iconic annual Hollywood issue, and was positioned between Michael Shannon and Harrison Ford.
However, following allegations of abuse of power and inappropriate behavior earlier this month, Franco was quickly dropped from the cover and was digitally edited out of the final image.
In a statement to Entertainment Tonight (ET), a spokesperson for the publication confirmed: "We made a decision not to include James Franco on the Hollywood cover once we learned of the misconduct allegations against him."
A source told ET on Friday that being pulled from the cover was a "kick to the gut" for Franco.
"He was supposed to be on this cover with all these Hollywood icons," the source explained. "It's a very momentous moment. Opportunities like this don't come around often.
"James knew he was being cut as soon as the story (about his inappropriate behavior) broke. He'd been bracing for the fallout."
Franco was also denied a Best Actor Oscar nomination for his portrayal of Tommy Wiseau in The Disaster Artist, despite having already won Best Actor in a Musical or Comedy at this year's Golden Globes for the role.
And the actor is apparently not coping well with the fallout of the allegations.
"The story has gotten away from him," the source explained. "He hoped that by keeping quiet, this would blow over. But even with industry friends coming to his side, things are spiraling downward."
"His friends think he'll bounce back from this because he really is looking inward and trying to learn and be better. It just depends on if the public will forgive him. He's just really in a dark place right now."