I think it’s safe to assume there is now about a 75% chance that a third Bill & Ted movie is going to happen. According to Vulture, Dean Parisot has been tapped to direct the film. Parisot previously directed Galaxy Quest and Fun With Dick and Jane (along with a bunch of TV shows). He is currently preparing to film Red 2 for Summit. With a director in place, a script by creators Ed Solomon and Chris Matheson ready to go, and Keanu Reeves and Alex Winter attached, it appears a 2013 start date is becoming increasingly realistic. Twenty-years after Bill & Ted’s Bogus Journey, the third installment will find out where the Wild Stallone’s are in their lives today. Alex Winter previously indicated the film will look into “what’s happened to rock & roll in the last twenty years.” Details about the film are being kept under wraps, but I wouldn’t mind seeing the duo travel in time again (something they did not do in the second film). Red 2 has to be completed before Parisot can begin working on Bill & Ted 2, so don’t expect to hear anything new for the next few months.
Source : Vulture