Just three days after we reported that Frozen 2 isn't happening quite yet, Disney formally announced plans for the sequel at their annual shareholders meeting in San Francisco today. Frozen directors Chris Buck and Jennifer Lee, who stated earlier this week that the sequel isn't in the works at this time, are currently developing the follow-up, although no plot details were released. The filmmakers are also behind the animated short film Frozen Fever, which will be released in theaters attached to prints of Cinderella, arriving in theaters tomorrow. Here's the official statement from Disney below.

Winter weather ahead! Frozen 2 is officially in development at Walt Disney Animation Studios with directors Chris Buck and Jennifer Lee and producer Peter Del Vecho, the Oscar-winning filmmaking team behind Frozen.

The news was announced at Disney's Annual Meeting of Shareholders this morning by Bob Iger, Chairman and Chief Executive Officer of The Walt Disney Company; John Lasseter, Chief Creative Officer of Walt Disney and Pixar Animation Studios; and actor Josh Gad, who provides the voice of Olaf from Frozen. Here's what John Lasseter had to say in a statement.

"We enjoyed making Frozen Fever so much and being back in that world with those characters. Jennifer Lee and Chris Buck have come up with a great idea for a sequel and you will be hearing a lot more about it and we're taking you back to Arendelle. We are so excited about that."

A release date and production details are yet to be announced.

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The Frozen 2 doesn't come as too much of a surprise, since the original Frozen took in over $400 million at the domestic box office in 2013, and more than $1.2 billion worldwide. It hasn't been confirmed if Kristen Bell (Anna), Idina Menzel (Elsa), Jonathan Groff (Kristoff) and Josh Gad (Olaf) will be back for the sequel, but since they all returned for the Frozen Fever short film, it's probably a safe bet that they will reprise their voice roles. Are you excited that Frozen 2 is officially happening? Chime in with your thoughts below, and stay tuned for more details on Frozen 2.