The Michael Bay-led universe of Transformers movies has come to an end.

Those attending the Toy Fair 2018 Hasbro Investor Preview this morning were greeted with quite the shock as the toy company announced that the current Transformers movie franchise is getting a reboot, following the release of the Bumblebee spinoff in December.

According to Transformer World 2005, Hasbro revealed that a total reset and overhaul is on the way after the franchise has limped through five films. The ultra-expensive series has been panned by critics, and the last couple of installments have been disappointing in the domestic box office.

Going forward, Hasbro will be taking on a bigger role in producing films based on its property alongside Paramount, the studio behind the Transformers and G.I. Joe films. Hasbro will now have greater control over the movies being made, which includes greenlighting new projects. The company is also said to be investing between $100-$125 million on film and TV content this year.

Following the Bumblebee film, which is set to hit theaters in December, Hasbro has four films currently slated for release through 2021. G.I. Joe and Micronauts are getting new movies in 2020, while Dungeons & Dragons and a Paramount/Hasbro event film are scheduled for 2021.

For now, there are no Transformers movies scheduled through 2021. Hasbro gave no indication as to when the reboot process would officially begin, but it seems as though the focus is currently shifting to some of the company's other big properties.