"Michael is going to direct it, and it will be in the summer of 2014. He's a cool customer. He's excited and I think the challenge there is we really are going to do a reboot. What that's going to be, we don't even know yet."
The producer also shot down rumors that Jason Statham is being eyed to star in Transformers 4, and clarified what he meant by a "reboot."
"It's a hybrid. I'm not involved with (The Amazing) Spider-Man, but what I perceive Spider-Man to be is a redoing of the whole thing. This is not. It's an evolution. There's still a continuity that's going on, and yet, there will be a lot of new cast members. Whether there's anybody from the first cast, we don't even know yet, but the truth is, it's going to be a whole new story. The characters that will certainly come along will be Optimus and Bumblebee, I'm sure."
Transformers: Age of Extinction was released June 27th, 2014 and stars Nicola Peltz, Mark Wahlberg, John Goodman, T.J. Miller, Stanley Tucci, Kelsey Grammer, Sophia Myles, Jack Reynor. The film is directed by Michael Bay.