"It's not a reboot," Bay said, reiterating that the new film will have an all-new cast. "That's maybe the wrong word. I don't want to say 'reboot' because then people will think we're doing a 'Spider-Man' and starting from the beginning. We're not. We're taking the story that you've seen the story we've told in three movies already and we're taking it in a new direction. But we're leaving those three as the history. It all still counts... We're moving on to something different"
Though the script, currently being drafted by Ehren Kruger, is not yet final, Bay hints that one place the fourth film may go is into outer space. "That feels like the way to go, doesn't it?" says Bay. "I want to go a little off [the planet] but I don't want to go too sci-fi. I still want to keep it grounded."
No matter what, Bay says that one element of the new production is to scale back the budget somewhat to around $165 million, about $30 million less than 2011's Transformers: Dark of the Moon.