Steven Spielberg to bring the Transformers franchise back to glory 

Steven Spielberg is set to have a much greater creative influence over the Transformers franchise as Paramount Pictures moves ahead with the eighth live-action film.

The filmmaker will return as an executive producer on Transformers 8, but this time his responsibilities will extend beyond producing. Spielberg will oversee the film's creative direction alongside longtime franchise producer Lorenzo di Bonaventura, with the pair aiming to recapture the tone of the earlier Transformers films.

Spielberg previously served as an executive producer on the franchise and was closely involved with its first two films, released in 2007 and 2009. His renewed involvement comes as Paramount reshapes the series and looks to build on a franchise that has generated more than $5.4 billion at the global box office.

Transformers 8 is currently being written by Jason Fuchs. The story will take place in the present day, although Paramount is keeping the plot details under wraps. No director has been announced yet, while the extent of Michael Bay's involvement remains unclear. Bay directed the first five films in the series.

Shia LaBeouf, who starred in the first three Transformers films, will not be returning for the new instalment. Casting discussions for the rest of the film are still at an early stage.

Spielberg's return to a more active role follows a meeting with Paramount's new studio heads, Dana Goldberg and Josh Greenstein, after the Paramount Skydance merger. The agreement brings him back alongside di Bonaventura, who has produced multiple films in the franchise.

Paramount is also abandoning plans for its previously announced Transformers and G.I. Joe crossover. Instead, the studio is developing a standalone G.I. Joe film in collaboration with Danny McBride.

The announcement arrives shortly after the successful theatrical re-release of the original animated The Transformers: The Movie, which was given an extended run following strong box-office performance.

With Spielberg now overseeing its creative direction, Transformers 8 could mark an attempt to bring the franchise back towards the spirit of its early films while taking the series into a new era.