Conventional wisdom would suggest otherwise, but despite the breakup of Disney and Pixar, Disney still controls the characters and the concepts of Toy Story (and all the Pixar films that were made while the co-production deal was in place).
Disney is going to go through with making 'Toy Story 3'. I don't trust Disney with being able to produce Toy Story 3. This is the company that created this type of entertainment. This is how much Disney has fallen in my estimation.