Michael Bay cutting budget of Transformers 4

Michael Bay has informed the L.A. Times of his plans for the fourth instalment of the Transformers franchise.

Bay confirmed that the original cast are gone, and that Shia LaBeouf‘s character Sam Witwicky will not be-recast.

He also assures us it’s not a reboot; the “story” from the original trilogy will inform the future adventures, but he’s embarking on a new tale.

The biggest scoop: the budget will be $30 million less than its billion-grossing predecessor, Dark of the Moon.

Bay recently wrapped his $20 million black comedy Pain and Gain, which, needless to say, we are far more excited to see.

Discuss: Do these plans sound promising to you?