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Hedlund, whose credits include Friday Night Lights and Troy, will play a boy who is sucked into a computer-generated world.
Jeff Bridges, Bruce Boxleitner - who starred in the original - and House star Olivia Wilde have already been confirmed for the project.
According to The Hollywood Reporter, Hedlund beat Chris Pine, Ryan Gosling and Michael Stahl-David to the part.
Disney has ditched working titles Tron 2.0 and TR2N and will apparently use the title Tron for the long-awaited follow-up.
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