Michael Bay will direct the fourth instalment in the Transformers movie series, with Steven Spielberg on board to executive produce once again.

Shia LaBeouf, who starred in the first three Transformers films as Sam Witwicky, is not expected to return for further instalments.

Bay has signed a two film deal with Paramount, which will include drama Pain and Gain after which he will begin work on the fourth Transformers movie in the spring.

In Pain and Gain, Dwayne 'The Rock' Johnson and Mark Wahlberg will star as two bodybuilders caught up in an extortion ring and kidnapping scheme that goes badly wrong.

Transformers 4 is being scheduled for release on June 29, 2014.