I know this was made almost a month ago, but since it hasn't been posted on this site yet I'm doing so now.
It seems that the story for Transformers 4 will be heading in a new direction. President and CEO of Hasbro Brian Goldner spoke at the UBS Best Of Americas 2012 Conference (via TFW2005 and Bleeding Cool) where he discussed the company's plans for the future, including what they've got in store for the Transformers film series.
While Transformers: Dark of the Moon did well at the box office ($1.1 billion worldwide) it didn't do so well at the one thing these kind of films are made for...selling toys. With this idea in mind, the company wants the fourth film to include an all new cast of robot characters with a story revolving around them (so they can sell more toys). This isn't a totally shocker as Michael Bay has said previously that the film will feature 'an all new cast,' thought we never interpreted that to mean the robots too. Economically this decision makes sense for Hasbro and, frankly, weren't we all getting a little tired of seeing the same old Autobots fighting the Decepticons? Maybe now they can bring in the much longed-for Dinobots.
The fourth film is currently being penned by Ehren Kruger with Bay back as the director. It is said to be a slightly smaller film in budget than the previous movie and Bay hopes to have some of it take place 'off planet.' Bay also says this will be his last outing in the director's chair for Transformers and that he's making way for a new director to take over the 'new trilogy.'
The new movie is scheduled to be releases on June 27, 2014.
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