'Star Wars: Episode 7, 8' Release Date: 'The Force Awakens' Hits Cinemas Dec. 18, 2015, Followed by Sequel in May 2017

As fans await the release of "Star Wars: The Force Awakens" on Dec. 18 this year, Walt Disney Studios is already preparing a follow-up for the movie franchise's seventh edition that will be released in May 2017.

Bob Iger, chairman and chief executive officer of Disney, announced that Rian Johnson will write and direct "Star Wars: Episode VIII" during his company's annual shareholders' meeting on Thursday.

The eighth edition of "Star Wars" will come to theaters on May 26, 2017, or exactly 40 years and a day after the original film "A New Hope" was released.

There has been no news on the intergalactic front since the first official trailer of "Star Wars: The Force Awakens" was released in November 2014.

"The Force Awakens" cast feature members of the original trilogy reprising their roles including Harrison Ford, Carrie Fisher, Mark Hamill, Anthony Daniels, Peter Mayhew, and Kenny Baker.

Adam Driver, Lupita Nyong'o, Max von Sydow, Andy Serkis, John Boyega, and Daisy Ridley are just some of the newcomers who will be joining the old guards, according to The Hollywood Reporter.

Meanwhile, Iger announced new details about the Star Wars world-based stand-alone film being directed by Gareth Edwards. He said the movie is titled "Rogue One" and will hit theaters on Dec.16, 2016.

Using a screenplay written by Chris Weitz, the movie will star Felicity Jones, who agreed to join production scheduled to begin in London this summer.

While no plot details were revealed, many have speculated that it will focus on the early days of Princess Leia and Han Solo, the Variety reported.

"Rogue One will be different than your average 'Star Wars' film as it explores the characters and events beyond the core 'Star Wars' saga," CNN Money said, citing a statement on the franchise's website.

In 2012, Disney acquired Lucasfilm, the production company founded by "Star Wars" creator George Lucas, for $4 billion.

Iger said the company's "long-term plan is to release a new Stars Wars feature film every two to three years."