Excellent! Looks like a movie about a man and his companion that travel through time in a phone booth is getting closer to being made! Dude! Not talking about the mad man in the blue box but the two men of Wyld Stallyns, Bill S. Preston, Esquire and Ted “Theodore” Logan (insert air guitar rift here).

It’s been 20 years since ‘Bill & Ted’s Bogus Journey’ and it looks like ‘Bill & Ted 3’ is getting one step to getting on the big screen. Back in March, it was reported that the original ‘Bill & Ted’ writers, Ed Solomon (‘Men in Black,’ ‘Charlie’s Angeles’ 2000 movie) and Chris Matheson (‘Imagine That,’ ‘A Goofy Movie’) had completed a script and the project was waiting to be green lit by MGM (who still holds the rights). Both Alex Winter (Bill) and Keanu Reeves (Ted) are on board with the project and it looks like they now have a director to helm the sequel.

Vulture is reporting that Dean Parisot is now attached to the film. Parisot’s work is mostly in television directing episodes of shows such as ‘Justified,’ ‘The Good Wife’ and ‘Modern Family,’ but he’s best known in the features world for directing the cult classic ‘Galaxy Quest’ starring Tim Allen and Sigourney Weaver back in 1999.

During a time where Hollywood is developing reboots and remakes, it’s good to know that this film will not be either of that but rather a direct sequel showing were Bill and Ted are in their lives today.  Reeves did hint about the plot last year saying:

When we last got together, part of it was that Bill and Ted were supposed to have written the song that saved the world, and it hasn’t happened. So they’ve now become kind of possessed by trying to do that. Then there’s an element of time and they have to go back.

It may be awhile before this sequel will start production as there are two small obstacles that need to be overcome. One is that the film is in need of a studio to co-finance the project. Matheson and Solomon are selling ‘Bill & Ted 3’ as a relatively inexpensive comedy, along the lines of ‘Hot Tub Time Machine’ (which only cost $36 million to make back in 2010). If they can find another studio to come on board, the chances that MGM will green light the film is great.

The other problem is that Parisot is already committed to ‘Reds 2’ which is supposed to start filming in the fall, so any type of production that will occur for ‘Bill & Ted 3’ will have to wait until next year when Parisot is free.

‘Galaxy Quest’ was such a great film that waiting for Parisot to clear his schedule to direct ‘Bill & Ted 3’ is worth the time spent waiting. One of the endearing elements of the ‘Bill & Ted’ movies are the multitude of cultural references made throughout the film and with the advances and changes made in the last 20 years, it will be interesting to see how the two boys from Wyld Stallyn see it all. I can image it now… ‘Bill & Ted’s WTF Adventures!’

We’ll keep you updated as more news emerges about the development of the film. Until then, in the immortal words of Bill & Ted: “Be excellent to each other. And… PARTY ON, DUDES!”