Deadline reported back in March that Paramount Pictures was hiring a group of writers, led by Akiva Goldsman, to work on a "Transformers" cinematic universe which would launch with the release of "Transformers 5." It may take some time for this to hit a steady stream as Paramount recently confirmed that latter won't hit theaters until 2017.

As reported by Collider, it was previously believed that "Transformers 5" would be pushed as quickly as possible to cash in on the financial success of "Transformers: Age of Extinction." The film was initially scheduled to hit theaters by the summer of 2016. Scheduling conflicts may have led to the decision to push the film back to 2017.

Director Michael Bay, who handled all four "Transformers" films, is currently working on his war drama flick "13 Hours." With the financial success that Bay has delivered four times in a row, it comes as no surprise that Paramount is willing to wait for Bay instead of simply handing the director's chair to someone else.

A new director may yet be introduced but this time for the spin-off films. Brian Goldner, CEO of Hasbro, recently confirmed that the rumored "Transformers" cinematic universe was indeed moving forward.

"Our plan right now with the studio and filmmakers, you may have read something about some writers being hired", he explained to Deadline. "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's any number of stories to be told".

It is possible that a new director may helm one of these spin-off films. Fans have speculated that Jonathon Liebesman may be brought in for the first spin-off, given the fact that he has already worked with Michael Bay in the past. Liebesman directed the Bay-produced "Teenage Mutant Ninja Turtles" film that found huge success in 2014.