According to Variety sources, Williams would essay the role of a district attorney and possibly Hardy's love interest.
"The Night Of" actor Riz Ahmed is also cast in the film, set to be directed by Ruben Fleischer.
"Venom" will be a standalone movie and Sony Pictures has confirmed it will not be a part of the Spider-Man universe.
Scott Rosenberg and Jeff Pinkner will write the script for the film, which is set to begin production next month.
Venom made his first appearance on the big screen in Sam Raimi's "Spider-Man 3" and was played by actor Topher Grace.
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