The two studios announced on Friday that they will collaborate on a third Spider-Man film starring Tom Holland.
The as yet untitled film will be released on July 16, 2021, and be produced by the Disney-owned Marvel Studios and its president, Kevin Feige, according to a press release sent by both studios.
Amy Pascal will also produce through Pascal Pictures, as she has on the first two Holland-led films, the release said.
“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,” Feige said in the release. “Spider-Man is a powerful icon and hero whose story crosses all ages and audiences around the globe.”
The agreement also allows Spidey to appear in a future Marvel Studios film.
Feige acknowledged the collaboration makes the webslinger unique among superheroes.
”[Spider-Man] 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,” he said.
The end to the Spidey standoff came more than a month after it was reported the two studios were unable to reach terms on a deal for a sequel to their previous films, “Homecoming” and “Far From Home.”
The sticking point was that Disney ― which owns the character ― reportedly wanted a co-financing stake in future films with Sony, which has the film rights thanks to deals set up before the Mouse bought Marvel in 2009.
The Hollywood Reporter notes both sides had good reason to come together. “Far From Home” is Sony’s biggest box office hit ever, while Marvel gets to maximize merchandising and keep creative control.
One person who was happy the impasse has ended was Holland himself, who expressed his joy on Instagram.