Tom Hanks and Tim Allen are officially signed up to reprise their beloved roles in "Toy Story 3," which I believe is a sequel to "Toy Story" and "Toy Story 2." Also, it looks like Disney is making a return to hand-drawn animation with their (eventually) upcoming "Frog Princess." Cool!
Unfortunately, "Toy Story 3" is not scheduled to hit screens before 2010 (!), but it’s good to know that Hanks and Allen will be coming back. (We hope to hear the same news on actors like Joan Cusack, Annie Potts, Wallace Shawn, John Ratzenberger, etc.) Pixar lord John Lasseter says they have a "great story" for "TS3," the screenplay for which comes from recent Oscar-winner Michael Arndt, of "Little Miss Sunshine" fame.
In other news, production is beginning to ramp up on Disney’s "Frog Princess," which will be a much-welcome return to the art of hand-drawn animation. Ron Clements and John Musker (co-directors on classics like "Aladdin" and "The Little Mermaid") are directing the New Orleans-based tale. Apparently "Frog Princess" will focus on Disney’s first African-American princess. Randy Newman will be writing tunes for the flick.
Source: The Hollywood Reporter