Sony Pictures and Marvel Studios have made up for the sake of Spider-Man.
The two companies, who were at odds over the rights of the superhero, had originally called off negotiations as Sony Pictures looked to retain full rights to Tom Holland’s character.
On Friday, the two companies announced that Marvel Studios and its president, Kevin Feige, will produce the third film in the “Spider-Man: Homecoming” series.
The new deal was signed late on Thursday night. Negotiations involved top players from both studios, including Sony Pictures chief Tom Rothman, Feige and Walt Disney Studios co-chairs Alan Horn and Alan Bergman. 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 and will put up roughly a quarter of the financing. As part of the arrangement, Spider-Man will also appear in one future Marvel Studios film.
The film is scheduled for release on July 16, 2021. Amy Pascal will also produce through Pascal Pictures, as she has on the first two Holland-led films.
Here’s Tom Holland’s reaction to the news:
Sony Pictures also jumped in on the social media storm: