Transformers: The Last Knight, which released last year, will get a reboot.

According to Transformer World 2005, a fan page 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 installment of the main Transformers film series had been pulled from Hasbro and Paramount's slate of upcoming projects.

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.