The post title says it all. At the CineEurope Conference in Spain, Paramount Pictures International SVP Edward Ryan
revealed that Transformers 5 has been green lit for release in Summer 2016. The move was part of the companies presentation of a Transformers 4 sizzle reel along with highlighting Paramount's overall release slate from this summer to 2016. Other planned 2016 releases include Beverly Hills Cop, GI Joe 3, and Hansel and Gretel 2. No details beyond that but if Michael Bay passes on TF5, that means that Paramount is going to have to find a replacement director by year's end as pre-production will have to start early 2015 make the 2016 release date.