Alex Winter and Keanu Reeves played Bill and Ted in "Bill & Ted's Excellent Adventure" and "Bill & Ted's Bogus Journey". They also provided the voices of Bill and Ted in the 1990 animated series "Bill & Ted's Excellent Adventures". A live action TV show was made in 1992 but did not star Keanu Reeves or Alex Winter. The TV show was short lived.
Keanu Reeves had this to say about the new film: "When we last got together, part of it was that Bill and Ted were supposed to have written the song that saved the world, and it hasn't happened, so they've now become kind of possessed by trying to do that. Then there's an element of time and they have to go back."
Rumors of a third film have been around for years now. In 2007, it seemed as though no sequel would ever be made, because MGM decided to reboot the movie in direct-to-DVD form. The studio even hired a writer and a director for the project but the film never came to be. Perhaps the studio decided a sequel would be the best route to go.
It should be noted that www.billandted3.com is live and features a teaser poster for an upcoming Bill & Ted film! It seems as though MGM is serious about Bill & Ted 3 this time! Thanks for reading and a special thanks to the Huffington Post for the story! Thank you for your time!