The Cannes Film Festival kicks off today with an announcement that fans have been waiting 27 years for. Bill & Ted 3 is finally, officially happening with the title Bill & Ted Face the Music. Bloom has brought this sequel to Cannes to kick off international sales, with Bloom handling international and MGM releasing the film domestically through its Orion Pictures company. Bloom has also released the first official synopsis for this sequel, which you can check out below.

"When we last met Bill and Ted they were time-traveling teenagers trying to pass history class and win the battle of the bands. Once prophesized to save the universe with their rock and roll, middle age and the responsibilities of family have caught up with these two best friends who have not yet fulfilled their destiny. They've 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, Bill and Ted find much, much more than just a song. The film is currently in pre-production."

Keanu Reeves and Alex Winter return to reprise their roles as Ted Theodore Logan and Bill S. Preston Esquire, although no other cast members have been confirmed at this time. Dean Parisot (Galaxy Quest) has long been confirmed to direct the sequel, working from a screenplay by the original writers of both 1989's Bill & Ted's Excellent Adventure and the 1991 sequel Bill & Ted's Bogus Journey, Ed Solomon (Now You See Me) and Chris Matheson (Imagine That). Here's what Bloom's Alex Walton had to say in a brief statement.

"Fans of Bill and Ted have been waiting for Reeves and Winter to reunite since their last Bogus Journey in 1991. This is excellent!"

This sequel had been rumored for many years, with Keanu Reeves and Alex Winter attached to return for years, but the project could never get off the ground. There is no indication yet if other Bill & Ted characters will return, such as William Sadler's Death, nor has there been any announcement as to when production may begin, or when Bloom and MGM's Orion have plans to release this long-gestating sequel. Here's what Keanu Reeves and Alex Winter had to say in a join statement.

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"We couldn't be more excited to get the whole band back together again. Chris and Ed wrote an amazing script, and with Dean at the helm we've got a dream team!"

Neither of the first two movies were massive hits at the box office, but they both retained a loyal fan base throughout the years. 1989's Bill & Ted's Excellent Adventure earned $40.4 million at the box office in 1989, and the 1991 follow-up Bill & Ted's Bogus Journey took in just $38 million. Fans have held out hope that a third and presumably final movie will be released to wrap up the trilogy, and after nearly three decades of waiting, it's finally happening. Hopefully we'll have more details from Orion or Bloom as we get closer to production starting.