Hasbro, Paramount, director Michael Bay and exec producer Steven Spielberg have started talks on creating a fourth film in the TRANSFORMERS series, writes The Hollywood Reporter. The news came from Hasbro CEO Brian Goldner at the company's third-quarter earnings conference call.

Goldner also gave some news on its OUIJA feature, which Universal dropped earlier in the year. He likened the situation the one that happened with THE LONE RANGER where Disney shut down production for fears that the budget was too high. He added that the script has now been reworked and budget dropped.