Brian Goldner, CEO of Hasbro recently spoke about Transformers 5 in a recent press interaction.

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Entertainment Weekly reported from the conference call about Hasbro earnings on April 20, wherein Goldner revealed that the release of the sequel to Age of Extinction was slated for 2017.

"We have in fact brought in Akiva Goldsman to lead a group of writers to really create a strategic plan around Transformers. We think there are any number of stories to be told from the brand that has been around for 30 years with amazing canon and mythology," he said. "We would expect the sequel to theTransformers movie to happen in 2017."

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There has been heavy speculation about the release date of Transfomers 5, which was initially proposed for a 2016 release. Goldner also reiterated some of the facts that had been previously revealed in a Deadline report. Michael Bay is confirmed to be directing the film and will be collaborating with Goldsman and a bunch of new writers. According to Deadline the writers will be brainstorming about ideas not only for the fifth instalment but possible multi-part sequels and spin-offs. Bay, whose next project, a movie based on the book, Thirteen Hours: A Firsthand Account of What Really Happened in Benghazi by Mitchell Zuckoff, hopes to get cracking on Transformers 5 right after he is done. The director would like the script and screenplay to be worked out by then so no time is wasted. 

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

Watch the trailer for the movie here: