About a month ago we reported that Michael Bay was in talks to direct ‘Transformers’ 4 and possibly a 5th, but those rumors were denied by Michael Bay himself. Now there are new reports making their rounds that much to the delight of producer Steven Spielberg, Michael Bay is in final negotiations to helm a fourth ‘Transformers’ film. The plan would be to start shooting right after he finishes the smaller budget ‘Pain and Gain’ next year.

An inside source tells Vulture that Paramount is “not far from closing” a deal with the high profile action director. When talk of a fourth film began, it looked unlikely that Shia LaBeouf or Bay would return. Now, however, it looks like Optimus enthusiasts will have a new Michael Bay film set after 2011’s ‘Dark of the Moon’ to look forward to.

Long time fans of the robots in disguise will be happy to hear that the studio wants to mine the Transformers canon in order to bring in characters new to the big screen. An insider told Vulture, “Regular people might not care about bringing out a character like Sentinel Prime. But believe me, fans of the series cared.”

Now, having said all that, Blastr just reported a short while ago that Michael Bay, once again took to his forum to address the rumors that he’s in final negotiations and had this to say:

“Studio’s [sic] are passing rumors but I’m not sure what I’m doing? I know I’m going to do Pain and Gain early spring but that’s it for right now. I’m leaving all my options on the table. I’ve got several Studio meetings in the next two weeks.”

At this point there is no telling what is 100% true, but it sounds as if he hasn’t officially made up his mind like we are being led to believe. At this point we have to wait and see what happens.

What do you think is going to happen? Are you excited at the prospect of Ultra Magnus or Kup making the transition to live action?