This is the first official word on Transformers 3. At this time, it could not be confirmed that either director Michael Bay or stars Shia LaBeouf and Megan Fox would return to the franchise. At this early date, Transformers 3 has no direct competition for the July 4th weekend, 2011.
Transformers 2: Revenge of the Fallen is set to hit theater screens this summer on June 24th, 2009.
UPDATE: (3/17/09 9:45 AM PST) Director Michael Bay has posted a brief message on his
message boards about the new release date for Transformers 3 and it seems he's aiming for 2012.
I said I was taking off a year from Transformers. Paramount made a mistake in dating Transformers 3 - they asked me on the phone - I said yes to July 4 - but for 2012 - whoops! Not 2011!!! That would mean I would have to start prep in September. No way. My brain needs a break from fighting robots.
We'll be sure to keep you posted on any release date or other developments for Transformers 3 as soon as more information comes in.