Paramount Pictures is reportedly developing five Transformers projects. For fans of Michael Bay’s Transformers movies, he is reportedly returning to direct a new installment, according to Matthew Belloni’s recent report on Puck.
According to Puck, Transformers One director Josh Cooley is developing a new live-action Transformers movie. A Transformers and G.I. Joe crossover script is also currently in development, along with Michael Bay’s potential next live-action film. Two additional projects are reportedly in the early stages.

Bay has been in talks with Paramount since last year about returning to the franchise as a producer, and possibly as a director. According to Belloni, both sides are interested in working together again.
As reported, the untitled Transformers/G.I. Joe crossover is being developed by Paramount and Hasbro, with a script penned by Derek Connolly (Detective Pikachu, Jurassic World). It is a sequel to Transformers: Rise of the Beasts, which ended with Anthony Ramos’ character, Noah Diaz, being invited to join the secret military organization G.I. Joe.
Since Michael Bay stepped away from the Transformers franchise, the series has experienced a noticeable drop in box office performance. During this period, Bay has faced challenges in getting his own film projects off the ground. Despite these setbacks, he is now working on a new Transformers film — one of several projects — currently in development at Paramount.
The original Transformers trilogy, led by Shia LaBeouf and Megan Fox (in the first two films), saw rising box office success: Transformers (2007) earned $709.7 million, Revenge of the Fallen (2009) grossed $836.3 million, and Dark of the Moon (2011) surpassed $1.12 billion.
Source: Puck