Michael Bay to direct 'Transfomers 4'

Bay Paramount's signed director Michael Bay to a two-picture deal for "Pain and Gain" and "Tranformers 4."Studio, which announced the pact Monday night, said Bay will commence shooting this spring on "Pain and Gain," then follow with the next installment in the "Transformers" franchise, to be released in the summer of 2014.Based on a true story, "Pain and Gain" follows a group of bodybuilders who engaged in a campaign of kidnapping, extortion and murder in Florida. Mark Wahlberg, long attached to topline, will be joined by Dwayne "The Rock" Johnson.Producers include Bay, Donald De Line and Ian Bryce.Par gave no details as to the plot of "Transformers 4," based on the Hasbro toyline. The third installment, "Transformers: Dark of the Moon," took in $1.12 billion.Producers are Lorenzo di Bonaventura, Don Murphy, Tom DeSanto and Ian Bryce; and executive producers are Steven Spielberg, Bay, Brian Goldner and Mark Vahradian. Paramount Pictures will release the film on June 29th, 2014."Michael has been working on 'Paid and Gain' for a number of years but has patiently waited for the perfect casting to trigger a start," said Adam Goodman, President of Paramount's Film Group. "Clearly his patience has paid off as we couldn't be more excited about this combo." Contact Dave McNary at dave.mcnary@variety.com