Now, Puck News reports that Bay is developing a new “Transformers” movie at Paramount Pictures, one that he intends to direct:

“Bay approached the studio last year to come back as a hands-on producer and possibly director, and he’s got writer Jordan VanDina (“Animaniacs,” “Dodgeball 2″) working on a script. It’s one of five or so Transformers projects in development that David Ellison and Skydance will inherit if/when the Paramount sale closes.”