Sony terminates Spider-Man deal with Marvel Studios

Deadline is reporting that Sony is terminating its relationship with Marvel Studios when it comes to producing their Spider-Man films. This comes as a result of a standoff between the Walt Disney Company and Sony Pictures.

According to the report, the decision comes from "an inability by Disney and Sony Pictures to reach new terms that would have given the former a co-financing stake going forward." Sony reportedly has plans for two more Spider-Man files, with actor Tom Holland reprising his role as the wall-crawler and Jon Watts returning to direct the movies. However, Marvel's involvement in the project is doubtful, as Marvel Studios President Kevin Feige has been "essentially nixed" by Sony.

The report goes on to claim that Disney asked for all future Spider-Man projects to be a 50/50 co-financing arrangement between Marvel and Sony with the latter declining. Instead, Sony proposed for leaving the current deal untouched, which allows Marvel to receive approximately 5% of first-dollar gross while maintaining merchandising rights.

Despite this, Sony remains optimistic of about the future of the Spider-Man franchise, even without the helping hand of Marvel, as the studio believes it's already set a solid foundation to build off of with Homecoming and Far From Home.

Sony Man: Far From Home is still in theaters, starring Tom Holland, Samuel L. Jackson, Zendaya, Cobie Smulders, Jon Favreau, JB Smoove, Jacob Batalon and Martin Starr, with Marisa Tomei and Jake Gyllenhaal. It was even reported that Far From Home will be getting a re-release which would include several minutes of deleted scenes later this month.

UPDATE [Aug 21, 2019]

Sony has now made a public statement on the studios parting ways:

Much of today’s news about Spider-Man has mischaracterized recent discussions about Kevin Feige’s involvement in the franchise. We are disappointed, but respect Disney’s decision not to have him continue as a lead producer of our next live action Spider-Man film. (1/3)

— Sony Pictures (@SonyPictures) August 21, 2019