The 61-year-old actor will receive the Giffoni Experience Award and will be festival's first big international star coming to Italy this July, according to The Hollywood Reporter.
Cranston, who played Walter White in AMC's drug drama, has joined the ranks of Hollywood stars such as Mark Ruffalo, Orlando Bloom and Martin Freeman have received this honour in the past.
The actor will also meet the festival's young audience and share his career knowledge with them.
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