Sony and Walt Disney announced on Friday that Marvel Studios led by President Kevin Feige will produce a third film in Spider-Man: Homecoming series. The film will star Tom Holland and is scheduled for release on July 16, 2021.
As part of the arrangement, Spider-Man will also appear in future Marvel Studios films, according to the press release.
“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 the 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.”
The update comes a month after Deadline first reported that Disney and Sony Pictures decided to split in August. The two companies were not able to reach an agreement that would have given new terms to a co-financing stake between the two studios.
The terms of the deal were not disclosed as representatives for Sony and Marvel did not respond immediately to newsmen’s request.