From The Hollywood Reporter comes word that Warner Bros. has shortlisted three stars for the role of the titular superhero in Green Lantern: Bradley Cooper, Ryan Reynolds and Justin Timberlake.

The trio beat out Michael Fassbender, Henry Cavill and Jared Leto for the final list; all of them performed two rounds of screen tests. Apparently, the producer Donald De Line, director Martin Campbell and the studio each have a favorite among the final three, which is why a consensus hasn’t been reached yet.

Even more interestingly, the holding deal on all three actors expired on Monday, meaning they are now free to hook up to other projects, so making a casting decision is an urgent matter for the project.

The film will follow Hal Jordan, a hot-shot Air Force pilot who is inducted into an intergalactic police force called the Green Lanterns. It is scheduled to begin production by the end of the year for release in summer 2011.