Well, that was fast. On the same that Transformers Dark of the Moon producer Lorenzo Di Bonaventura announced that Transformers 4 would be out in summer 2014 and that Michael Bay will come back as director, Mr. Bay has announced it himself.

Posting on his official website, he writes that he would like to "set the record straight," announcing that he has "just concluded a deal with Paramount to do two movies, but it won't be two Transformers."

He pegs the Transformers 4 release date as June 29, 2014 after he directs Mark Wahlberg and Dwayne Johnson in Pain and Gain.

Mr. Di Bonaventura spoke during a GI Joe Retaliation that Mr. Bay would be back and that the film, will not be a complete reboot, keeping pieces of continuity intact, but introducing new storylines.

A press release from Paramount PIctures confirms that this will be a "new take" on the franchise.


UPDATE: Paramount Pictures has released a press release announcing Mr. Bay's deal.

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PRESS RELEASE

FIRST UP FOR THE PROLIFIC FILMMAKER IS "PAIN AND GAIN" STARRING MARK WAHLBERG AND DWAYNE "THE ROCK" JOHNSON, FOLLOWED BY A NEW INSTALLMENT IN THE HUGELY POPULAR "TRANSFORMERS " FRANCHISE, TO BE RELEASED ON JUNE 29TH, 2014

HOLLYWOOD, Calif., Feb.13, 2012 /PRNewswire/ -- 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 1.124 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."

About Paramount Pictures Corporation
Paramount Pictures Corporation (PPC), a global producer and distributor of filmed entertainment, is a unit of Viacom (NASDAQ: VIA, VIAB), a leading content company with prominent and respected film, television and digital entertainment brands. Paramount controls a collection of some of the most powerful brands in filmed entertainment, including Paramount Pictures, Paramount Animation, Paramount Vantage, Paramount Classics, Insurge Pictures, MTV Films, and Nickelodeon Movies. PPC operations also include Paramount Famous Productions, Paramount Home Media Distribution, Paramount Pictures International, Paramount Licensing Inc., and Paramount Studio Group.

SOURCE Paramount Pictures Corporation

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