I am currently not talking to Paramount on T4 and T5 despite reports. I'm looking at a lot of possibilities coming my way right now weighing options. Most likely going to be doing the low budget Pain and Gain, a true story crime thriller. It's a very quick shoot and quite funny. Also just finishing the 3 disc set of the Transformer trilogy.Meanwhile, in an interview with MTV Jason Statham shot down his involvement with the franchise. He said ""You know, I don't know how those things start. You read them. Someone told me about it. The internet is a dangerous place."
My opinion is Michael Bay will be offered the opportunity to direct the next film more out of politeness. After six years of living the Transformers movies, Bay has got to be ready to move on but regardless he will get an executive producer credit. I think Hasbro and Paramount are seriously considering doing a reboot of the movie franchise. What they are really waiting on isn't deals to be put in place or a script but on The Amazing Spider-Man.
While franchises have been rebooted, none after such a short break from the previous set of films or for franchises where the films cost $200 million a pop. Assuming Spider-Man makes the big bucks, I would be more shocked if they didn't do a reboot. Hasbro already reboots the franchise about once every five years so it is an old trick for them. A reboot also means a fresh approach to the toys using new designs instead of rehashing a now 6 year old esthetic yet again. Paramount probably doesn't care as long as the movie succeeds but selling a reboot means the benefits of the brand without any of the baggage, always something the marketing department enjoys. On the creative front, a new director is going to want to put their own stamp on the franchise without having to work in Michael Bay's shadow (but the comparisons will always be inescapable). The net result is a reboot is a win all around. The only way I don't see a reboot occurring is if Spider-Man bombs or Michael Bay decides to direct again and doesn't want a reboot. Neither scenario is likely to happen. Thanks All Hail Starscream for the heads-up.