Wyld Stallyns are officially back together! After years of delays and budgeting issues, it looks like Alex Winter ("Bill" S. Preston Esq.) and Keanu Reeves ("Ted" Theodore Logan) are finally going to be able to make a third Bill & Ted movie.
While the duo expressed some frustrations at roadblocks in the way of making the movie just a few months ago, it seems all has been resolved as The Hollywood Reporter says the movie has been picking up by MGM to be released in the U.S. under their Orion Pictures brand and the film is currently being shopped internationally at the Cannes Festival.  THR also has a synopsis on the plot of the third film, currently titled Bill & Ted Face the Music:
Currently in preproduction, Bill & Ted Face the Music will see the duo long past their days as time-traveling teenagers and now weighed down by middle age and the responsibilities of family. Theyâve written thousands of tunes, but they have yet to write a good one, much less the greatest song ever written. With the fabric of time and space tearing around them, a visitor from the future warns our heroes that only their song can save life as we know it. Out of luck and fresh out of inspiration, Bill and Ted set out on a time travel adventure to seek the song that will set their world right and bring harmony in the universe as we know it. Together with the aid of their daughters, a new crop of historical figures, and some sympathetic music legends, they find much, much more than just a song.
The film was written by the original creators, Chris Matheson and Ed Solomon along with Dean Parisot directing. The script is eight years in the making.
In an interview with Yahoo in 2014, Alex Winter gave a few more hints of the plot:
â[Bill & Ted] will be 40-something and itâs all about Bill and Ted grown up, or not grown up,â Winter tells us. âItâs really sweet and really fâ-ing funny.
âBut itâs a Bill & Ted movie, thatâs what it is. Itâs for the fans of Bill & Ted. It fits very neatly in the [series]. Itâs not going to feel like a reboot. The conceit is really funny: What if youâre middle-aged, havenât really grown up and youâre supposed to have saved the world and maybe, just maybe, you kinda havenât?â
âThereâs many versions of ourselves in this movie,â he continues. â[Itâs] answering the question: âWhat happened to these guys?â Theyâre supposed to have done all this stuff, they werenât the brightest bulbs on the tree, what happened 20 years later? To answer that question in a comedic way felt rich with possibility.â
There is no release date set yet, but we'll keep you posted. For now, Alex Winter tweets that the air guitars are being tuned.
https://twitter.com/alxwinter/status/993889709238534144