'Toy Story 4' To Release On June 16, 2017

Two decades after Pixar created the world's first computer animated feature with Toy Story, Disney is set with Toy Story's 4th installment.

Disney has announced that 'Toy Story 4' is happening and it will hit theatres on June 16, 2017. John Lasseter, who directed the first two 'Toy Story' movies, will direct the fourth instalment of the animated film, reported the Huffington Post. "We love these characters so much; they are like family to us," Lasseter said in a statement. "We don't want to do anything with them unless it lives up to or surpasses what’s gone before.

'Toy Story 3' ended Woody and Buzz's story with Andy so perfectly that for a long time, we never even talked about doing another 'Toy Story' movie. "But when Andrew, Pete, Lee and I came up with this new idea, I just could not stop thinking about it. It was so exciting to me, I knew we had to make this movie -- and I wanted to direct it myself," Lasseter added.The new story was dreamt up by the original Toy Story writing team of Lasseter, Andrew Stanton, Pete Docter and Lee Unkrich.

The announcement was made by Walt Disney CEO Bob Iger during a meeting for investors yesterday. In the meeting,it was confirmed that Rashida Jones and Will McCormack will be joining in writing the script.

"John created Toy Story and directed the first two films, and it's great to have him back directing one of our most valuable properties," Iger said.

2010's 'Toy Story 3' became the highest grossing animated-film of all time before Frozen took the top spot earlier this year. The third installment of Toy Story won 2 Oscar Awards for Best Animated Feature of the Year and Best Original Song.