Not all goodbyes are permanent.
Sony Pictures announced a third Spider-Man film will be produced by Disney’s Marvel Studios after all, weeks after the two powerhouse studios couldn’t reach an agreement for Tom Holland’s fan-favorite superhero to remain in the Marvel Cinematic Universe. The movie is set to hit theaters in 2021, with Marvel president Kevin Feige once again stepping in as producer.
“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,” Feige said 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.”
Last month, news broke that Disney would be ending its partnership with Sony Pictures on the Spider-Man franchise, thanks to a disagreement over co-financing. Sony owns the film rights to the iconic superhero, and several years ago, the studios struck a deal: Feige would help produce Sony’s solo Spider-Man films, allowing Holland’s Spidey to appear in the Marvel Cinematic Universe, beginning with 2016’s Captain America: Civil War.
After the release of this summer’s Spider-Man: Far From Home (which has now become Sony’s highest-grossing film of all time with $1.11 billion worldwide), Disney reportedly asked to share co-financing on future Spider-Man solo films, while Sony wanted the financing arrangement to remain the same as it had been.
The news about Spider-Man’s return is sure to please both fans and its star alike. Holland stopped by PEOPLE and Entertainment Weekly’s studio backstage at Disney’s D23 last month, where he addressed the news of the initial split and reminisced about his time working with Marvel.
“Basically, we’ve made five great movies,” Holland told EW. “It’s been five amazing years. I’ve had the time of my life. Who knows what the future holds? But all I know is that I’m going to continue playing Spider-Man and having the time of my life. It’s going to be so fun, however we choose to do it. The future for Spider-Man will be different, but it will be equally as awesome and amazing, and we’ll find new ways to make it even cooler.”