News broke this morning (Friday) that Sony Pictures and Walt Disney Studios have reached an agreement over Spider-Man.
According to a report in Deadline, the new deal takes Disney’s first gross dollar percentage up from 5%, and Disney will retain the merchandising rights. The agreement, said to have been signed Thursday night, means that Spider-Man will continue in the Marvel Cinematic Universe for the third film in the current story arc, following events in Spider-Man: Far From Home, and the character will also appear in one additional MCU film. The details on the final first gross percentage have not been released yet.
Marvel Studios president Kevin Feige will continue to co-produce alongside Amy Pascal for Sony under her Pascal Pictures banner.
“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 Feige in a statement. “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.”
“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,” said Pascal. “This has been a winning partnership for the studios, the franchise and the fans and I’m overjoyed it will continue.”
The news follows weeks of back and forth between the two studios after news broke on Tuesday, August 20, that negotiations for a new deal had stalled, with some reports having Disney’s request for first gross percentage as high as 50%. Other reports put it closer to 30%, but then things started to look even more like a bad divorce, with both sides accusing the other of sabotaging the deal. At one point, Sony Pictures chairman and CEO Tony Vinciquerra had said the door was closed to Spider-Man’s return to the MCU.
The sequel is slated for release on July 16, 2021.