UPDATE: Michael Bay To Helm TRANSFORMERS 4; Will "Reboot" The Franchise

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"Michael's going to direct it and it will be in the summer of 2014," Bonaventura confirmed in an interview with MTV News. "He's a cool customer, he's excited and I think the challenge there is that we are really are going to do a reboot and what that's going to be we don't even know yet."

As for those casting rumors about Jason Statham, he said: "No, it's so silly. We've got to get a story first."

"It's a hybrid," added the producer when talk turned to just how much of a reboot the movie really is. "I'm not involved with Spider-Man, but what I perceive Spider-Man to be is a redoing of the whole thing. It's [Transformers] not. It's an evolution, there's still continuity that's going on and yet there will be a lot of new cast and whether there will be anyone from the old cast we don't even know yet. It's going to be a whole new story. The characters who will come along will be Optimus and Bumblebee I'm sure."

UPDATE: Here is the official press release confirming that Michael Bay will return to direct a fourth Transformers movie for a June 29th, 2014 release date.

HOLLYWOOD, CA (February 13, 2012) – Paramount Pictures announced today that director Michael Bay has signed a two-picture deal with the studio, which will commence this spring with the filming of "Pain and Gain," and will be followed by the next installment in the hit "Transformers" franchise.

Based on a true story, "Pain and Gain" follows a group of bodybuilders who engaged in a campaign of kidnapping, extortion and murder in Florida. First told in an article from the Miami New Times, "Pain and Gain," will be directed by Bay and will star Mark Wahlberg and Dwayne "The Rock" Johnson. Expected to begin production in early spring, the movie’s producers include Bay, Donald De Line and Ian Bryce.

Following "Pain and Gain," Bay will bring audiences a new take on the "Transformers" franchise as he begins production on the fourth installment in the hit series of movies based on the best-selling Hasbro toyline. The third, and most recent installment of the franchise, "Transformers: Dark of the Moon," is the fourth highest global grossing film of all time with 1.24 billion dollars of worldwide box office success. Directed by Bay, the movie will re-unite the filmmaking team from the hit franchise, including producers Lorenzo di Bonaventura, Don Murphy, Tom DeSanto and Ian Bryce; and executive producers Steven Spielberg, Bay, Brian Goldner and Mark Vahradian. Paramount Pictures will release the film on June 29th, 2014.

"Michael has been working on PAIN AND GAIN for a number of years but has patiently waited for the perfect casting to trigger a start," said Adam Goodman, President of Paramount’s Film Group. "Clearly his patience has paid off as we couldn’t be more excited about this combo. His passion for this project is just awesome."

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