Lindsay Lohan's first film in years, the Elizabeth Taylor biopic "Liz & Dick," is set to premiere this month, and the troubled actress' next project is already on the horizon.

Following the premiere of "Liz & Dick" on Lifetime on Nov. 25, Lohan will star next in "The Canyons," a film about greed and the hunger for power in fame in Hollywood.

The latest trailer for "The Canyons" was posted online this week, and the Internet was abuzz with both love and hate for the newest look at Lohan's next film.

The clip is intentionally over the top, using black and white footage and stereotypically dramatic 1950s soundtrack music to convey a tone of humor throughout.

Lohan stars in "The Canyons" alongside porn star James Deen, who is making his big-screen debut in the film. The movie was written by Bret Easton Ellis, the writer famous for novels like "American Psycho" and "Less Than Zero." Ellis was in contention to write the script for the upcoming film adaptation of "Fifty Shades of Grey," but until he was eliminated from the process earlier this year.

Though the release of the latest "Canyons" trailer did cause some buzz around the film this week, most of the attention on Lohan over the last few days has centered around "Liz & Dick" and the actress canceling a high profile interview with Barbara Walters.

Lohan, 26, was set to sit down with Walters for an exclusive interview on ABC's "20/20." But Lohan pulled out at the last minute, after Walters had already made a trip to the "Liz & Dick" set and shot some interview footage with Lohan.

Reports said Lohan and her new public relations team felt Walters would ask probing questions about Lohan's legal matters, which they didn't feel would be right for Lindsay to discuss at this time.

Instead, Lohan will sit for an interview with a much lighter tone with Jay Leno on an episode of "The Tonight Show" scheduled to air on Tuesday, Nov. 20.

Tags: Lindsay Lohan the canyons liz & dick Barbara Walters