VARIETY reported that Paramount and DreamWorks have slated a third TRANSFORMERS film for July 4, 2011, but AIN'T IT COOL NEWS updated the information later on Monday.
Michael Bay posted a message on his forums: "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."
No announcement from the studios has come out, but several scenarios could happen, including Bay not getting his break, the film could indeed be moved to 2012 or a new director could come on board.
The second TRANSFORMERS film is due this summer.