That rumoured Monsters Inc sequel is actually a prequel.

For a while now the MONSTERS INC sequel rumours have been flying. We announced last April that a sequel would hit cinemas in 2012. Today Dave Hollis, Disney’s executive vice president of worldwide distribution gave some concrete information on the highly anticipated project. 

Speaking to cinema owners gathered yesterday in Las Vegas for their annual CinemaCon convention, Hollis said “The film is a prequel that tells you a little bit about how [Mike and Sully] first met, attending Monsters University, Obviously everybody knows at this point Mike and Sully are amazing friends – the best of friends – but as it turns out, in this story, that wasn’t always the case. From the moment they met at university, they could not stand each other. This story takes you through the ups and downs, and how they overcame their own differences.” 

Disney insider Floyd Norman also tweeted that Pixar had screened the film at Disney’s lot in Burbank on Friday. Most likely an early storyboard version. “Welcome back, Mike and Sully, we’ve missed you. Yeah, you too, Randall,” he added after the screening.

MONSTERS UNIVERSITY will hit cinemas in winter 2012 with both Billy Crystal and John Goodman returning as the main characters.

Stay tuned for more info on Monsters University.