Will there be a Transformers 3 movie?
As a preemptive measure, Paramount announced a July 4, 2011 release date for a third Transformers film before completion of Revenge of the Fallen. Michael Bay (director) responded, "I said I was taking off a year from Transformers. Paramount made a mistake in dating Transformers 3—they asked me on the phone—I said yes to July 4—but for 2012—whoops! Not 2011! That would mean I would have to start prep in September. No way. My brain needs a break from fighting robots." Like Revenge of the Fallen, Orci refused to guarantee whether he and Kurtzman (writers) would return to a sequel, because "we risk getting stale."
http://en.wikipedia.org/wiki/Transformers:_Revenge_of_the_Fallen
I just hope Transformers 3 is much better than the second one, because the second one was terrible.