Reeves dropped clues about the script in 2017 to Graham Norton on the BBC, saying that Bill and Ted are "supposed to write a song to save the world and they haven't done that".
The original Bill & Ted's Excellent Adventure debuted in 1989, followed by Bill & Ted's Bogus Journey in 1991.
The third movie in the "Bill & Ted" franchise is now in pre-production, with a script written by original creators Chris Matheson and Ed Solomon. After Matheson and Solomon relentlessly teased the Bill and Ted 3 script for months, and Reeves and Winter coyly hinted at the development of the sequel, we finally have confirmation that the third Bill and Ted film is in development. Steven Soderbergh, of all people, is an executive producer.
The deal that brought the project to life - negotiated by Endeavor Content - will see the latest offering from the MGM-owned property manifest under the original Orion Pictures banner (which MGM revived in 2013 after a late-1990s bankruptcy). No release date has been set for "Bill & Ted Face the Music". The project is now in pre-production. To secure this future, George Carlin's sage-like Rufus is sent back in time from the 27th century to help Bill and Ted pass their high school history report, sending the two easygoing dudes on an unprecedented expedition through history.
"Chris and Ed wrote an wonderful script, and with Dean at the helm we've got a dream team". Studios, who have published a number of miniseries on and off for the last few years.
The revival of Reeves and Winters' classic characters is a dream come true for longtime fans of the franchise, which spawned cartoon and live-action TV spinoffs and a Nintendo video game back in the day.
Reeves has an impressive slate including the successful John Wick trilogy for Lionsgate. Stephen Herek directed the first film of the series, Peter Hewitt directed the second, and Dean Parisot (Galaxy Quest) is on board to direct the third.