'Finding Nemo 2' has been rumored for some time now and now it looks as if it's officially happening with Andrew Stanton - who directed the original - returning for the sequel.

'Finding Nemo 2' is apparently based on an original concept that Stanton directly pitched Disney and Pixar executives. What exactly that is remains to be seen because Pixar won't comment on the matter.

In addition to directing 'John Carter' and the original 'Nemo,' Stanton also co-directed 'A Bug's Life' and won an Oscar for 'WALL-E' (bonus trivia: he's also the voice of Crush in 'Finding Nemo'). 'Finding Nemo 2' will be written by Victoria Strouse and is being prepped for a summer 2016 release.

So...this is what happens when you direct a movie ('John Carter') that is considered a financial disaster. Stanton's first attempt at a live-action film didn't exactly go over well so he'll be returning to Pixar to direct a sequel to one of their biggest films. According to Deadline, his deal will include a provision that Disney will allow him to attempt another live-action film once he wraps with 'Finding Nemo 2.'

It's a bit disappointing to think that Stanton went from getting the directing gig on a $200 million-plus live-action epic to a animated sequel, but if it provides him the opportunity to again work in live-action, that seems to be a trade-off he's willing to take.

'Finding Nemo' made over $850 million worldwide and is Pixar's second-biggest film after 'Toy Story 3' (which Stanton co-wrote). Pixar is re-releasing 'Finding Nemo' in 3D this September.