Toy Story 3 is an upcoming computer-animated 3-D film being produced by Pixar Animation Studios, slated for release on June 18, 2010. It is a sequel to the films Toy Story and Toy Story 2. Lee Unkrich, who edited the previous films and co-directed the second, takes over as director. Tom Hanks and Tim Allen reprise their roles as Woody and Buzz.
The third chapter of the Toy Story trilogy tells the story of Sheriff Woody, Buzz Lightyear and the others of the Toystory cast, when their now teenage owner, Andy, leaves for college, leaving our heroes at a day-care center.
Slinky Dog's voice artist Jim Varney passed away due to lung cancer in 2000. He was replaced by a friend, who producer John Lasseter described as "sounding an awful lot like him". Wheezy the penguin's voice artist Joe Ranft passed away in a car accident in 2005.
According to the terms of Pixar's revised deal with Disney, all characters created by Pixar for their films were owned by Disney. Furthermore, Disney retained the rights to make sequels to any Pixar film, though Pixar retained the right of first refusal to work on these sequels. But in 2004, when the contentious negotiations between the two companies made a split appear likely, Disney Chairman at the time Michael Eisner put in motion plans to produce Toy Story 3 at a new Disney studio, Circle 7 Animation. Tim Allen, the voice of Buzz Lightyear, indicated a willingness to return even if Pixar was not on board.