Transformers 3 gets release date

Transformers 2 isn't even in cinemas yet, but Paramount, the studio behind the hit franchise, has already set a release date for a third film.

Variety reports that the third film in the franchise looks likely to be released in the US on July 1 2011, although stars Megan Fox and Shia LaBeouf have yet to be signed up.

The second instalment in the franchise Transformers: Revenge of the Fallen, is out in the US on July 3 this year and according to star Megan Fox, promises to be bigger and better than the first.