It looks like mom and dad talked it out and came to a mutually beneficial understanding. After shocking the industry with the sudden collapse of their unique deal with Spider-Man, Sony Pictures Entertainment Walt Disney Studios jointly announced today that Marvel Studios and its President Kevin Feige will produce the third film in the Spider-Man series, starring Tom Holland.
The film is scheduled for release on July 16, 2021, and as part of the arrangement, Spider-Man will also appear in a future Marvel Studios film. Amy Pascal will also produce through Pascal Pictures, as she has on the first two Holland-led films. Here is a statement released by Marvel Studios President Kevin Feige:
“I am thrilled that Spidey’s journey in the MCU will continue, and I and all of us at Marvel Studios are very excited that we get to keep working on it. Spider-Man is a powerful icon and hero whose story crosses all ages and audiences around the globe. He also happens to be the only hero with the superpower to cross cinematic universes, so as Sony continues to develop their own Spidey-verse you never know what surprises the future might hold.”
Amy Pascal also represented the Sony side of things with her own statement on this corporate re-marriage:
“This is terrific. Peter Parker’s story took a dramatic turn in Far From Home and I could not be happier we will all be working together as we see where his journey goes. This has been a winning partnership for the studios, the franchise and the fans and I’m overjoyed it will continue.”
Over the summer, news broke that the Disney, Marvel’s parent company, and Sony had reached an impasse over a new financing deal. Disney wanted the film to be financed on a 50/50 basis with Feige remaining in a consulting producer capacity. Sony is believed to have proposed keeping the arrangement under the current terms, which stipulate that Marvel receives about 5% of first-dollar gross and all merchandising revenues. The news of the split pretty much broke the internet and divided fans on who was to blame for the collapse. Some blamed Sony for not being thankful that Disney/Marvel gave new life to the character that was on life support after Sony’s The Amazing Spider-Man 2 while others blamed Disney for being greedy as they felt the company was just trying to monopolize on every part of the film industry.
The new deal was signed late on Thursday night and the negotiations involved top players from both studios, including Sony Pictures chief Tom Rothman, Feige, and Walt Disney Studios head Alan Horn. In exchange for lending Feige’s producing prowess, Marvel and Disney will receive roughly 25% of the profits, according to insiders. Disney will retain its merchandising rights. As part of the arrangement, Spider-Man will also appear in one future Marvel Studios film, as stated above.
