Variety is reporting Walt Disney and Pixar set 2009 for the release of Toy Story 3; however, John Lasseter won't be the director.

In addition to confirming for the first time that a third Toy Story is in the works, most likely for 2009 release, Lasseter said Lee Unkrich will direct the third installment of the animated family flick; Unkrich co-directed Toy Story 2, Monsters Inc. and Finding Nemo but has never before been sole helmer on a Pixar pic. Michael Arndt is writing the script.

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Toy Story 3 is currently in development.