Sony and Marvels seem to have settled their differences with regard to the future directions of Spider-Man in the Marvel Cinematic Universe (MCU)
An announcement by the two Hollywood studios says a third Spider-Man film starring Tom Holland in the works, much to the delight of fans. The film is expected to hit the cinemas on the 16th of July 2021.
Recall that back in August, Sony had said it was disappointed about its failure to reach an agreement with Marvel Studios about working together on future Spider-Man films.
But all that seems to now be water under the bridge as the two companies have reached an understanding, Variety reports.
Marvel Studios president Kevin Feige is rather delighted with the arrangement, saying: “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.”
While Marvel holds the rights to the Spider-Man comics, the right to the film was acquired by Sony over two decades ago in a licensing deal that that was agreed upon years before Disney acquired Marvel in 2009.
Under the licensing deal, Sony paid Marvel $10 million. The deal also allows Marvel to get 5% of any movies’ gross revenue and half the revenue from merchandise.
Spider-Man was able to appear in Marvel Studios’ films such as Avengers: Endgame due to a special deal negotiated between Marvel and Sony. It was during one of such negotiations that the relationship was temporarily threatened. But all seems to be well right now.
