Michael Bay is set to return to the Transformers franchise. Despite the director previously claiming he would not be in the frame to direct the rebooted series, the success of the third film Transformers: Dark of the Moon - which took over $1 billion at the international box office - has persuaded him to think again.

According to NYMag.com's Vulture blog, Michael could begin shooting on the project, which will not be a prequel to the original three films starring Shia LaBeouf, in late 2012 following his work on revenge thriller Pain and Gain.

Although details are not known about the story, it is thought it will focus more on the canon of the series and delve into old characters. A source told the blog, "Regular people might not care about bringing out a character like Sentinel Prime. But believe me, fans of the series cared."

Jason Statham is reportedly being considered for the lead role in the fourth film, with active discussions taking part between him and studio Paramount.