Fourth "Transformers" Film Isn't A Reboot!

While talking to Movieweb.com about his new crime-thriller, Michael "BIG explosions, no story" Bay spoke briefly about the upcoming 2014 "Transformers" sequel. He confirms that it's not a reboot even though it will feature a whole new story and a whole new cast too. This is what he said in his own words, "It's not a reboot, that's maybe the wrong word. I don't want to say reboot because then people will think we're doing a Spider-Man and starting from the beginning. We're not. We're taking the story that you've seen - the story we've told in three movies already - and we're taking it in a new direction. But we're leaving those three as the history. It all still counts. I met with the writer before I went off to do Pain and Gain and we talked about a bunch of ideas. We let that simmer for a bit. He's been thinking about stuff and now we're getting back together next week to see what we've got and to see if it gels."
He also said that the new film could be set in space and possibly on Cybertron, the Transformers home planet. He also said that the budget for this one is lower than the last 3 films, "It's going to be less, actually. Our mandate is to cut about $30 million."