Hasbro and Paramount are priming Transformers for a reboot of sorts with two separate projects in developments. While no firm details on either movie have been confirmed, it is believed the script James Vanderbilt (Zodiac) will be focused on Beast Wars. The second project is being written by Joby Harold, who recently co-wrote Zack Snyder's Army of the Dead.
Paramount's golden franchise came crashing down with Michael Bay's The Last Knight back in 2017. A global haul of $600 million might sound like a lot, but Transformers had become a very expensive franchise costing upwards of $260 million before marketing. Ultimately, The Last Knight lost more than $100 million which would usually spell the end to any franchise. However, Paramount had an ace up its sleeve with Travis Knight's heartfelt prequel/spin-off Bumblebee. Sure, it was a much smaller (and better) movie than any of its predecessors, and $468 million makes it the lowest-grossing, but it was easily the best film in the franchise so far.
After years of excess under Michael Bay's reign, Bumblebee was a more character-driven film fully loaded with 80s nostalgia and a dash of Spielbergian magic. Costing less than half of the average Transformers movie, Bumblebee won audiences over and restored some faith to the overall franchise. Much like the recent Bad Boys For Life, it's another franchise that got better without Michael Bay in the director's chair. A Bumblebee sequel is in development with writer Christina Hodson returning to draft the script, but no further details have emerged since late last year.
It remains unclear if Paramount will incorporate any of the unused ideas from the now-defunct Transformers writers room led by Akiva Goldsman. After glimpsing a bit of the infamous Battle For Cybertron in Bumblebee, fans are still keen to see a non-Earth set entry in the franchise that tells the story of the fall of the Transformers homeworld. That said, a Cybertron set movie sounds expensive, and Paramount seem set on telling smaller stories from the Transformers universe.