James Franco shared his joy on Instagram, thanking President Obama and then mocking him for flubbing his name at a news conference last week

They had hoped to stop the distribution of the Kim Jong-un assassination film

now revealed that North Korea was behind the hack and threats

the film following the reluctance of theaters to play the film in the aftermath of terrorist threats

This just one week after they decided not to

their film The Interview in selected theaters on Christmas day and on video on demand

It seems that Sony will be releasing their film The Interview after all.

After announcing they would not distribute the film following the reluctance of many theaters to run the picture in the aftermath of a terrorist threat from hacking organization Guardians of Peace, Sony has now decided to allow the film to play in selected theaters and on video on demand on Christmas.

The studio released a statement on Tuesday confirming the news, and James Franco shared his joy on Instagram, thanking President Obama before taking some time to mock him after flubbing his name during a news conference last week.

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In theaters: Sony has announced they will release their film The Interview on Christmas day

Not happy: It is believed that North Korea was attempting to stop the release of the film as it depicts the assassination of Kim Jong-un

Excitement: Seth Rogen shared how happy he was on Twitter Tuesday afternoon

Celebration: James Franco got in on the fun too, sharing a picture of him and Seth

'"The Interview" starring Seth Rogen and James Flacco saved by President Obacco! I MEAN PRESIDENT OBAMA!!!!! Sorry!!!' wrote Franco on his Instagram.

This after President Obama called the actor James Flacco last week while calling Sony's decision to not release the film a 'mistake.'

It would seem that he had confused the Hollywood heartthrob with Baltimore Ravens quarterback Joe Flacco.

Flacco found the entire incident hysterical, writing soon after on Twitter; 'Welcome to the family, brother. @JamesFrancoTV.'

‘The president applauds Sony's decision to authorize screenings of the film,’ the White House said in a statement to the Huffington Post.

‘As the President made clear, we are a country that believes in free speech, and the right of artistic expression. The decision made by Sony and participating theaters allows people to make their own choices about the film, and we welcome that outcome.’

'We're excited our movie will be in a number of theaters on Christmas Day,' said Sony CEO Michael Lynton.

'I want to thank our talent on The Interview and our employees, who have worked tirelessly through the many challenges we have all faced over the last month.'

He then added, 'While we hope this is only the first step of the film’s release, we are proud to make it available to the public and to have stood up to those who attempted to suppress free speech.

Seth Rogen also shared his excitement on Twitter, writing; 'The people have spoken! Freedom has prevailed! Sony didn't give up! The Interview will be shown at theaters willing to play it on Xmas day!'

'VICTORY!!!!!!! The PEOPLE and THE PRESIDENT have spoken!!! SONY to release THE INTERVIEW in theaters on XMAS DAY!' said James Franco on Instagram.

'Breaking news: Sony has authorized screenings of THE INTERVIEW on Christmas Day. We are making shows available within the hour. #Victory,' tweeted Alamo Drafthouse founder Tim League, on Tuesday.

The Alamo has theaters in California, Colorado, Louisiana, Michigan, Missouri, New York, Texas, and Virginia.

The Plaza Atlanta also tweeted, writing; 'Breaking Plaza News:The Interview will open Exclusive on 12/25 . The Plaza will be one of the few theaters in the nation to open the film.'

Sony had been widely criticized following their decision last week to shelf the movie, despite the fact that the film cost $42million to make and tens of millions to market.

Almost immediately, many in Hollywood voiced their concern, with writer Aaron Sorkin saying how upset he was that 'the U.S. succumbed to an unprecedented attack on our most cherished, bedrock principle of free speech by a group of North Korean terrorists,' and director Judd Apatow explaining the many problems this means for films moving forward.

George Clooney also weighed in, saying; 'We cannot be told we can't see something by Kim Jong-un, of all f***ing people.'

Supreme leader: Kim Jong-un (above) has denied that North Korea has anything to do with the hacking or threats of terrorism

Get your tickets: the Plaza Atlanta (above) is one of the theaters that will be playing The Interview

Coming soon: Posters advertising The Interview outside Alamo Drafthouse in Texas (above)

Regal, AMC, Cinemark, Cineplex and Carmike, who between them operate more than half of the country's 40,000 cinemas, had announced last Wednesday that they wouldn't be showing the movie.

In a statement, Regal said it was delaying any showings of The Interview because of 'the ambiguous nature of any real or perceived security threats.'

The statement from Regal's vice president of marketing and communications also pointed the finger of blame at Sony and its 'wavering support' for the movie.

Sony had previously told exhibitors that the company understood if they pulled the film in light of the threats.

THEATERS PLAYING THE INTERVIEW -The Plaza Atlanta (Atlanta, Georgia) -Alamo Drafthouse (Texas, Colorado, Virginia and New York) -State Theater (Ann Arbor, Michigan) -Southside Works Cinema (Pittsburgh, Pennsylvania) -Hollywood Boulevard Cinemas of Woodridge (Chicago, Illinois) Advertisement

'Due to the wavering support of the film The Interview by Sony Pictures, as well as the ambiguous nature of any real or perceived security threats, Regal Entertainment Group has decided to delay the opening of the film in our theaters,' said Regal's Russ Nunley.

Cineplex, which also has more than a 75 percent market share in Canada with 161 theaters and 1,639 screens, also released a statement on Wednesday.

As for international distribution, Sony had no comment on the planned February 6 release of the film in the UK.

The film will also open in Lebanon and Iraq on Christmas.

Deadline reports that the studio had decided against releasing the film in Asia months ago.

Celebrate: James Franco shared his joy on Instagram (above)

Overseas: A rep for Sony had no comment on the film's panned February 6 release in the UK

Global markets: The Interview is also set to open in Lebanon and Iraq on Christmas

Government officials have now revealed that North Korea was behind the hack on the movie studio, upset that they were set to release the film, which depicts the assassination of the leader.

North Korea has denied any involvement.

It is not yet known what other theaters may play the picture.

The fallout from the Sony Pictures Entertainment hack that began five weeks ago exploded last week after the Guardians of Peace escalated their attack beyond corporate espionage and threatened moviegoers with violence reminiscent of the terrorist attacks of September 11, 2001.

The seriousness of the threat made last Tuesday is still unclear.