A Deadline report revealed that Akiva Goldsman will not be scripting for Transformers 5.

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There have been some changes in the writing team for the Age of Extinction sequel. Goldsman won't be writing the movie, as he is set to surpervise the writing teams for G.I. Joe and conceptualising Micronauts. The report reveals that while Goldsman will still be surpervising the creative process behind Transformers 5, new scribes are coming on board to put pen to paper. The writers of Iron Man, Art Marcum and Matt Holloway, and Black Hawk Down's Ken Nolan.

Hasbro's president, Stephen J. Davis, recently confirmed that four more sequels have been planned for the series, and they will span over a decade.

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Davis also revealed that most of the conceptualizing and initial writing for Transformers 5 has been completed. He also confirmed, what is now a known fact, that Michael Bay will be directing the next film.  

"You're going to see a new Transformers movie coming from Hasbro and Paramount and Michael Bay and our other partners," Davis said. "In fact, we just finished -- as some of you may have read -- an incredible experience. We decided we wanted to plot out the next 10 years of the Transformers franchise, so we got together in a 3 month period of time...nine of some of the most creative writers I have ever worked with -- shepherded by Akiva Goldsman, who many of you may know won an Academy Award for A Beautiful Mind, and written a bunch of great movies. And they plotted out the next ten years of Transformers. Similarly we are doing the same in television and digital. So stay tuned Transformers 5 is on its way. ...And 6 and 7 and 8."

Transformers: Age of Extinction hit theaters on June 27, 2014.