Currently, Hasbro is in discussions with Paramount Pictures, Michael Bay and Steven Spielberg about how to make the project happen. They are discussing a back to back film format. It is said that the studio is pretty keen on the idea, and already has begun putting feelers out for writers.
There is no word on when production would begin on the film, but Shia LeBeouf wouldn't be returning. A possible replacement for him would be Jason Statham, but no offer has been made yet.
