A source for AICN reports that "Dreamworks has narrowed the list of potential directors for 'Transformers' down to two names, both familiar to fanboys worldwide. Roland Emmerich is evidently eager to do the film, but I hear he's about to get shut out in favor of Michael Bay. If I was a betting man, I'd put my money on Bay. Word is that Dreamworks is mighty happy with 'The Island', and they want to reward Bay by handing over a franchise they see as a major priority at the studio...

Tom DeSanto and Don Murphy are both attached to produce the film, and they're currently supervising a rewrite of the John Rogers script by Alex Kurtzman and Roberto Orci, who wrote 'The Island' and who are best known for their work on ABC's 'Alias'. So go ahead... be skeptical. I would expect nothing less on this calendar date. But when they finish up with all the paperwork and the smoke clears, I'm sure it'll be one of these two guys, and I'm leaning towards Bay as the winner."

Thanks to 'OMB'