After a brief pause, Sony Pictures and Marvel found a way to put aside the differences and fall in peace in the “Spider-Man” business.
On Friday, the two companies released a joint announcement that Marvel Studios and its president, Kevin Feige, were announcing that they would produce the third movie in the Spider-Man: Homecoming series. He will once again play Tom Holland as the titular hero. The two companies were close to signing a new agreement.
The new contract was initialed late Thursday night. Negotiations involved top positions from both studios, including Sony Pictures’ Tom Rothman, Kevin Feige and co-chairs at Walt Disney Studios Alan Horn and Alan Bergman. In return for Feige’s benefit, Marvel and Disney will receive about 25% of the proceeds, according to internal sources. Disney will retain its commercial rights and secure about a quarter of its funding. As part of the arrangement, Spider-Man will also appear in a future movie signed by Marvel Studios. In the summer, news emerged that Disney, the parent company of Marvel, and Sony were at a standstill over a new financing agreement. Disney wanted the film to be 50/50% funded, and Feige to remain in the consultant position. Sony, on the other hand, has proposed to keep the current terms of the agreement, which stipulates that Marvel will receive about 5% of the gross amount of the first revenue.
The film is scheduled for release on July 16, 2021. Amy Pascal will sign the production through Pascal Pictures, as she did in the first two films with Tom Holland.
“I am pleased that Spidey’s journey to the MCU will continue, and I, along with everyone from Marvel Studios, are very happy to continue,” Feige said in a statement. “The Spider-Man is a very powerful brand and a hero whose story is addressed to all ages and all categories of audiences worldwide. He is also the only hero with the superpower to appear in the cinematic universe of several studios, so as Sony continues to develop its own Spider-Man universe, we never know what surprises our future holds. ”
Amy Pascal seemed equally excited: “It’s wonderful,” she said. “Peter Parker’s story took a dramatic turn in Far From Home, and I couldn’t have been happier to see him continue to collaborate as his journey continues.”
Marvel has licensed Sony’s Spider-Man rights for nearly two decades, a deal that was set before Disney’s $ 4 billion acquisition of 2009. Sony has been commercially successful as well as Critics with the first Spider-Man series, directed by Sam Raimi and Tobey Maguire in the lead role. The second effort, with Andrew Garfield in the lead role and in the direction of Marc Webb, was moderately successful, which involved a restoration of the project.
With bringing Marvel and Feige back into the books with Spider-Man: Returning Home, in 2017, the studios were able to capture again the creative enthusiasm of the first series. The film also had an incentive to infiltrate the spider hero and into the universe of Avengers, where he becomes a key member of the superhero team.
Sony representatives agree: “We have had an excellent collaboration over the last four years and our mutual desire to continue has been the same as that of many of our fans,” said Robert Lawson, chief communications officer at Sony Pictures Entertainment. “We are pleased to continue together.”