Variety reports that Paramount Pictures and DreamWorks Pictures have set a July 1, 2011 release date for Transformers 3, but the studios have cautioned to Variety that the dating of the third installment isn’t an official announcement that the project is going forward; rather that the studios wanted to plan a stake in the date.
Transformers opened July 2, 2007; Transformers: Revenge of the Fallen debuts on June 24, 2009.
So far, Transformers 3 has no direct competition in its July 1, 2011 date.
Of course this is all very early planning from the studios, bear in mind that this is not an official announcement just yet or that Megan Fox would indeed come back, but if the film succeeds at the box office (as if you there are still anymore doubts!) we will most likely see another Transformers film. Back around the promotion of the first movie it was announced that Megan was contracted for at least two sequels should they use her character and given her other recently announced films wouldn’t conflict with it now.