A new live-action Transformers movie is reportedly in development, with Michael Bay in early talks to direct. The director has not yet been confirmed.
On the creative front, Steven Spielberg is mentioned as an executive producer, with Jason Fuchs reportedly writing the screenplay. Both Bay and Spielberg were involved in the early live-action Transformers films, so they may be collaborating on this project again.
Reports indicate that the new film will be set in modern times. The official title, cast, specific plot details, and release date have not yet been announced.