'Transformers' movie franchise to get rebootedLos Angeles, Feb 18 (AZINS) "Transformers: The Last Knight", which released last year, will get a reboot.

According to Transformer World 2005, a fanpage of the "Transformers" franchise, Toy company Hasbro has announced that the "Transformers" live-action film series will be "reset" by a new team at media company Paramount Pictures, following the release of its "Bumblebee" spin-off film.

The company made the announcement during Friday's Toy Fair 2018 Hasbro Investor Preview, where it was revealed that the planned sixth instalment of the main "Transformers" film series had been pulled from Hasbro and Paramount's slate of upcoming projects, reports aceshowbiz.com.

The new agreement between Hasbro and Paramount will grant the toy company greater creative control of their content and greenlighting new projects.

Hasbro will reportedly spend between $100-$125 million on film and television content throughout this year.

Furthermore, there are currently no live-action "Transformers" projects listed on the slate of upcoming films, which runs through to 2021.

It is unclear if its Paramount/Hasbro Event Film scheduled for 2021 is the said reboot of the "Transformers" franchise.

Paramount has yet to publicly announce the supposed reboot of the "Transformers" cinematic universe.