After Michael Bay's 'Transformers: Age of Extinction' turned out to be a massive hit at the box office garnering more than $1 billion worldwide in 2014, fans of the live-action thriller movie franchise have been eagerly waiting for positive updates regarding a fifth installment. Unfortunately, this far they have only been receiving bits and pieces.

According to a recent report in the IB Times, at last, there are numerous updates for 'Transformers 5.' Akiva Goldsman and his team of writers have finally framed the outline of the forthcoming sequel of the action-filled movie trilogy.

A report in Deadline states that the Oscar-winning writer and director has begun work on the script of the 'Transformers' sequel with Mark Wahlberg as the lead. It is expected that movie will go into production in June 2017. Meanwhile, there are rumors that Bay will return to direct the sequel of 'Transformers: Age of Extinction.'

Nevertheless, the filmmaker himself has claimed that his participation in the upcoming science fiction action film is yet to be finalized, as talks about his being at the helm of the movie are only being 'discussed'. Recently, Bay explained on his Twitter account, "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."

As of now, the producers have kept the plot of the upcoming movie a secret. However, earlier Akiva hinted that 'Transformers 5' will follow the mythology of the robotic saviors (Optimus Prime and his troop of Autobots) as well as the destroyers (Decepticons) from the universe of the Hasbro toys.

Deadline also asserted that an animated movie is being planned and it would narrate the origin of the Cybertron planet. Paramount has already signed 'Ant-Man' writers Andrew Barrer and Gabriel Ferrari, who will lead the writing department for the animated prequel movie.