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On his official site and was reported on other sites.
http://www.shootfortheedit.com/forum...Transformers-4
To clarify uninformed reports coming out of Toy Fair - Steven Spielberg and I are working on a whole new re imagining of Transformers, the fourth installment. We have been working on the idea for a few months. I'm excited about where it's headed. But first I'm doing a small $20 million dollar edgy black comedy of a true crime story set in Miami called "Pain and Gain," staring Mark Wahlberg and Dwanye Johnson, and very close to signing on a couple other great actors. I'm extremely excited to simplify my film career this spring with a great character piece.
That starts filming at the end of March. I might then jump onto a very cool television show my company Platinum Dunes is selling to a major cable network. It might be my first pilot I might potentially direct. We are still working out the details of the deal.
Bit old news by about a week or so.
Read between the lines and Bay comes back to the franchise because Paramount finally gave him the go ahead to do 'Pain and Gain' after he gave them 3 truckloads of money along with Hasbro.
That said. The more news that circles about it. The more it sounds like a direct continuity sequel to DOTM only with the current human characters being removed and told through a different POV.
I suppose you could look at 3 ways...
1. If you like the Bayformer movies. You like this news
2. If you like the Bayformer movies but looked forward to a true reboot...your probably mixed on this
3. If you hate the Bayformer movies and just Bay in general...you probably look at this as a double whammy....not only does another movie come from Bay but its slated as a re imagining of sorts. Though as I said it seems its looking like a direct sequel to the original trilogy only without the current human set
Shia wants no part of it though he is Steven's kid so it wouldn't surprise me if he comes back. Tyrese has stated he wanted back in. Josh stated recently that nobody has been contacted about the movie. Very early but for now you assume the formula sticks with a reimagining/paint change sequel.