NEW YORK (AP) -- Let it go (on)! The Walt Disney Co. has announced plans to make a sequel to the animated mega-hit "Frozen."

HOLLYWOOD, CA - NOVEMBER 19: Actress Kristen Bell at the premiere of 'Frozen' on November 19, 2013 in California. (Frazer Harrison, Getty Images)

At the company's annual shareholders meeting in San Francisco on Thursday, Disney executives officially announced plans for "Frozen 2."

Since its release in November 2013, "Frozen" has become a juggernaut for Disney. It made nearly $1.3 billion at the global box office and generated a massive merchandising revenue stream. The film also won the Oscar for best animated feature. Because of that enormous success, a sequel has been widely expected.

Walt Disney Co. chief executive Bob Iger says directors Chris Buck and Jennifer Lee will return for the sequel.

A "Frozen" short is to play in front of Disney's latest release, "Cinderella," which opens in theaters Friday.


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