Transformers 3 Set to Shape Shift in 2011

Will Megan and Shia sign on for Transformers 3?

Once, twice, three times a hit?

That's what Paramount's hoping. The studio has given the green light to a third installment of the metal-mashing adventure.

Transformers 3 is set for an Independence Day release in 2011. The intensely-titled sequel, Transformers 2: Revenge of the Fallen, comes out June 24.

So far, there's no script, no director, and no stars attached to the project. But why should those small things get in the way of a patented formula for franchise success? Not when there's important release date territory to stake out!

Kudos to you, Paramount, for winning the Fourth of July 2011 pissing match. We'll see if anyone still cares about Transformers two years from now.