Third 'Bill & Ted' Chapter Has A Director, Script

It's been peeking its groundhog-like head in and out of a development hole for years on end. But at last, Bill S. Preston, Esq and "Ted" Theodore Logan's next phone booth flight looks to be on its way to the next level.

A big piece has fallen into place, Vulture reports: Dean Parisot has signed on to direct the as-yet unnamed developing threequel. If this is to be done right, Parisot is the man to handle it. He's best known for directing Alan Rickman, Sigourney Weaver and Tim Allen in the "Star Trek"-spoofing 1999 sci-fi comedy "Galaxy Quest."

Come to the think of it, the current spec script written by Ed Solomon and Chris Matheson calls, thankfully, for neither picking up where 1991's "Bill & Ted's Bogus Journey" left off, no trying to reboot or update the lovable San Dimas airheads' most excellent adventures in time. Instead, word around the campfire has it, Matheson and Solomon will look to pick up with where Bill and Ted would be today.

Though MGM still owns the franchise's rights, but the script is currently being shopped to other studios that could co-finance it. Encouragingly, the people behind a third "Bill & Ted" are looking to fortify this one with a budget on a "Hot Tub Time Machine" level. Whatever comes together - if anything comes together - will have to wait upon the back burner a while. Parisot is next set to start shooting his sequel to 2010's "RED" this spring starring Bruce Willis.

Solomon and Matheson meanwhile are finishing up their Lionsgate horror comedy "Rapturepalooza," starring Anna Kendrick and John Francis Daley.

Naturally, Alex Winter is set to return as Bill and Keanu Reeves will be back as Ted, but of course, one thing will be all too conspicuous by its absence: the cool of the late George Carlin as their future-born guide, Rufus. It's just too hard to imagine these two without their bemused overseer.

Still, the pieces that are there - writing the quality of "Galaxy Quest" and a "Hot Tub Time Machine" budget - suggest the makings of a return to form that could do the beloved 1989 original justice.