Transformers 3 set to release 2011

We're a scant three or so months away from Transformers: Revenge of the Fallen, but why should that stop Paramount or Dreamworks from planning for what will ineveitably be a third film in the series? In a recent press release, Paramount let loose with the date for the third film that no one is signed on for (not even Michael Bay). What date is that you ask? July 1, 2011. Going back to the Fourth of July weekend paradigm for film releases, Paramount seems to think that this is a good time for the film to be released. And it is, because summer blockbusters tend to do exceptionally well. I'd also like to point out that so far that summer we'll have this, Spider-Man 4, Captain America, Thor and Harry Potter. At some point these summers of mega-blockbusters has to stop right? Full press release below. Paramount and DreamWorks are forging ahead with "Transformers 3," dating the movie for release on July 1, 2011. It's the first official word of the three-quel. Paramount insiders have said that the dating of the pic isn't an official announcement that the project is going forward; rather that the studio wanted to plan a stake in the date. DreamWorks and Paramount weren't immediately available to confirm whether Michael Bay and stars Shia LaBeouf and Megan Fox are set to return for the third installment in the franchise, which has fast claimed the July 4th holiday as its own. "Transformers" opened July 3, 2007; "Transformers: Revenge of the Fallen" bows on June 24, 2009. So far, "Transformers 3" has no direct competition in its July 1, 2011 date. Paramount also has moved up the release of Marvel Entertainment's "Thor" from June 16, 2011 to May 20, 2011.