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The Marvel Cinematic Universe isn’t losing its friendly neighborhood Spider-Man, after all.
Just when you thought that Sony SNE, -1.03% and Disney DIS, -1.28% wouldn’t be able to renegotiate a deal to keep the Sony-owned webslinger from appearing in Disney’s MCU films like “Avengers: Endgame,” the two companies revealed on Friday that they had reached a deal to make a third Spider-Man film starring Tom Holland. The still untitled superhero flick is slated to be released July 16, 2021.
“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,” said Marvel Studios president Kevin Feige in a statement published by the Hollywood Reporter.
“Spider-Man is a powerful icon and hero whose story crosses all ages and audiences around the globe,” he added. “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.”
Last month, fans were left reeling when news broke that the two movie studios were unable to reach a compromise to keep the Sony-owned Spider-Man franchise, which its held the rights to since 1985, from continuing to fight alongside Disney’s Avengers. (For a clearer picture of Spider-Man’s sticky situation with the motive studios, check out this chart.)
Disney wanted the next Spider-Man movie to be financed 50/50, and to keep Feige as a consulting producer.
Read more: Future of ‘Spider-Man’ movies in doubt amid Disney-Sony spat
The new deal signed Thursday night is believed to keep the current arrangement, Variety reported, with both Disney and Marvel getting about 25% of the profits, and Disney retaining its merchandising rights and creative control, as well as putting up about a quarter of the financing for the next film.
There was plenty of financial incentive for the two parent companies to work things out, of course. MCU’s first stand-alone “Spider-Man” movie starring fan-favorite Holland, 2017’s “Homecoming,” earned $880.2 million world-wide. This year’s “Far From Home” sequel snagged $1.11 billion, making it Sony’s biggest box office hit ever.
Holland expressed his delight on Instagram Friday afternoon, posting a clip of Leonardo DiCaprio’s “I’m not f—ing leaving … the show goes on!” speech from “The Wolf of Wall Street.”