Earlier this year, it was reported that Paramount and Hasbro have assembled a team of writers overseen by Oscar winning writer Akiva Goldsman to ensure the future of the "Transformers" franchise.

Those who took part in it were "The Walking Dead" creator Robert Kirkman, "Lost" writer Jeff Pinker, and "Iron Man" screenwriters Art Marcum and Matt Holloway, among others. Collider reports that the writers came up with ideas that could ultimately lead to three—or even 12 "Transformers" films.

It seemed as though Hasbro and Paramount were satisfied with the results from the experiment as Deadline reports that Goldsman was asked to supervise a Writers' Room for the "G.I. Joe" movie series and the lesser known Hasbro property "Micronauts." According to the website, Goldsman's additional responsibilities means that he won't be writing the next "Transformers" script but will be staying on to supervise those who will be working on it. Paramount is now in negotiations with Marcum and Holloway as well as "Black Hawk" scribe Ken Nolan to write the script for "Transformers 5."

Meanwhile, there has been no news about the plot for the fifth installment of the hit franchise. Previously, Mark Ryan, who voiced Jetfire in "Transformers: Revenge of the Fallen" and Lockdown in "Transformers: Age of Extinction," said that the writers are currently working on two different storylines, and one of them will be used for the fifth film.

The first storyline will see Cade Yeager (Mark Wahlberg) teaming up with the Dinobauts to save the world, while the other plot features Optimus Prime heading into space to find the creators of his race. The voice actor also said that production will start next year and that the film will be released in 2017.

It was previously confirmed that Wahlberg will be returning for the next film, and while it is expected that Michael Bay will be back to direct the movie, the director himself confirmed that he has "not committed" and that he talked with Steven Spielberg about it.

On Sept. 17, Bay took to Twitter and wrote, "Re: directing TF5. No, it's not official. I have not committed to any idea as of yet. Just met with Steven and we are discussing."