UPDATE: (AUGUST 21, 2019 at 8:16AM EST): Sony has officially released a response to the news of Spider-Man leaving the MCU. They maintain that it was Disney who decided to ultimately decline renewing the deal. They cite Kevin Feige’s workload as the main reason why Disney decided to not continue the partnership.
UPDATE: (AUGUST 20, 2019 at 6:11PM EST): Per Erik Davis of Fandango, and sources from i09, the reports of Sony and Disney parting ways is being labelled as “premature.”
UPDATE (5:37PM EST): A new report from Variety now says that Sony and Disney could still come to terms on an agreement. Contrary to the original report from Deadline, sources claim that the negotiations have hit an impasse, but a deal is not totally dead yet.
The original story is as follows:
The age of Spider-Man in the Marvel Cinematic Universe has apparently come to an end.
Marvel Studios president Kevin Feige won’t produce any further Spider-Man films because Sony has officially cut ties with Disney. Feige will no longer be involved in the creative process for Marvel’s webbed hero, as Sony resumes full control.
The news, which comes as an exclusive from Deadline, notes that Disney and Sony have been locked in re-negotiating the terms of their unprecedented Marvel deal for the last few months.
Disney asked that future Spider-Man films be a 50/50 co-financing arrangement between the studios, and there were discussions that this might extend to other films in the Spider-Man universe. Sony turned that offer down flat and didn’t return to the negotiating table.
Sony then decided to respond, keeping the arrangement going under the current terms where Marvel receives in the range of 5% of first dollar gross, sources said. With the cards down, Disney opted to refuse.
The original terms of the agreement saw Disney obtain creative control and merchandise rights, as well as being able to include Spidey in other MCU films. Sony meanwhile retained all profits earned from the box office in addition to final cut privileges.
Feige is said to be quite angry about talks breaking down. In addition to Spider-Man, Feige recently gained control over the X-Men and Fantastic Four properties from the Disney/Fox deal.
Over the course of the deal, which was struck in 2015, Feige and Sony Pictures chief Tom Rothman spoke about the possibility of a wider involvement in the Sony-controlled Spider-man universe, which contains 900 characters. With talks over, Sony has reportedly said that they will be fine with Marvel’s chief architect, maintaining that the creative template has been set on the Spider-Man films.
Jon Watts, who directed Spider-Man: Homecoming and Spider-Man: Far From Home, along with Spidey himself Tom Holland, are expected to remain attached to the series, with a third Holland/Spider-Man film in early-development. In addition to two solo films, Holland’s Spider-Man was also seen in Captain America: Civil War, Avengers: Infinity War, and Avengers: Endgame.
As Disney controlled Spider-Man, Sony began to develop its own Marvel movie-verse, starting with Venom. The studio has Venom 2 in development with Andy Serkis directing, Morbius with Jared Leto, Kraven The Hunter, and another spinoff with the characters Silver Sable and Black Cat. Sony has also been developing several Spider-Man: Into the Spider-Verse spinoffs, as well as a direct sequel featuring Miles Morales and Gwen Stacy.