Today at CinemaCon Walt Disney Pictures ended months of speculation concerning the second Monsters, Inc movie, confirmed both its name and that it is indeed a prequel to the 2001 Pixar film.

Monsters University will see our old friends Mike and Sully before their days working in Monstropolis and while the plot specifics have naturally not been disclosed the college setting should be a fertile ground for the minds at Pixar. The return of Billy Crystal and John Goodman has not been announced but is pretty much certain, and the film is supposed to show the two friends begin their education at the University of Fear as rivals.

The rumour that Pixar’s fourteenth film was to be a prequel has been around for a while, and though the studio have dabbled in prequels and spin-offs of late the success of Toy Story 3 is evidence that the law of diminishing returns seems not to apply to Emeryville’s finest.

The film is due to be released on the 2nd of November 2012.

THR spake.