Spider-Man is reportedly out of the Marvel Cinematic Universe after Sony and Disney failed to reach an agreement with each other.
Disney were seeking a 50/50 co-financing agreement between the two studios on any future Spider-Man movies, according to reports.
Sources told Deadline Sony rejected that offer and suggested a similar deal to the one in place for the first two Spider-Man films within the MCU. In that case, Disney would have received five percent of the first dollar gross from any future movies.
Disney rejected that offer meaning Marvel and president Kevin Feige will no longer produce any more Spider-Man films.
However, there are reportedly two new Spider-Man movies already in the works, which are set to be directed by Jon Watts and star Tom Holland as the superhero. The only change to the films should be Feige being replaced as lead creative producer.
The latest Spider-Man movie, Far From Home, became Sony’s highest-grossing film ever earlier this month, pulling in $1.109 billion (£911m) in revenue from the global box office.
The failure of the two studios to reach an agreement might not put paid to a Spider-Man and Venom crossover that Feige discussed earlier this year. When asked about the possibility of such a film, he said it was “probably up to Sony”, noting that the studio owned the rights to both characters.
Sony has the rights to Spider-Man and villains associated with him but agreed to lease the character back to Marvel in 2015 so he could appear in the MCU.