The live-action film (yes, live-action Transformers) will be directed by Michael Bay and executive produced by Steven Spielberg. The project is a co-production of DreamWorks Pictures, Hasbro, Inc. and Paramount Pictures.
In a press release, DreamWorks' head of distribution Jim Tharp explains the rationale for the long-range release date: "By staking our claim on the 4th of July, 2007, we ensure that we not only have the time to make this movie the way it should be made, but also to build excitement and awareness leading up to its release."
Translation: We're gonna wring every last cent out of this franchise.
For more "Transformers" news visit our "Transformers" spotlight page. -- Mac Slocum