Michael Bay has expanded and extended his contract with Paramount Pictures, according to Deadline.
The deal, under which Paramount has first look rights to the work coming out of Bay's production company Platinum Dunes, has been extended for another three years and expanded to also cover work done via Bay Films.
It's not hard to see why Paramount would make this move, given how lucrative Bay's Transformers franchise has been for them.
"With an ever-growing, worldwide fan base, Michael is truly one of the most inspired and beloved filmmakers of our time," Paramount chairman and CEO Brad Grey said. "We take great pride in the fact that Michael is part of the Paramount family and we look forward to growing our productive and successful partnership."
"Over the years I have become part of the Paramount family," says Bay. "There is a synergy there that feels different than any other place in Hollywood. From Brad Grey and Rob Moore, where my relationship goes back more than a decade, to my very good friend Adam Goodman, and to Philippe Dauman, who has put so much trust in me, and with the powerful marketing of Josh Greenstein and Megan Colligan, Paramount makes for a very comfortable place to work."
Next up from Paramount and Platinum dunes is Teenage Mutant Ninja Turtles, opening August 8.0comments