Sony Severs Marvel Studios Partnership With ‘Spider-Man’ Over Financing Dispute

UPDATE: Sony finally issued a statement regarding the matter. It turns out that Disney was on the aggressive about the 50/50 co-financing negotiation. It was Feige who opted out from helping Sony flesh out Spider-Man’s MCU narrative further, clearly a power play from the studio that also happens to own the merchandising for the previous Spider-Man movies.

“Much of today’s news about Spider-Man has mischaracterized recent discussions about Kevin Feige’s involvement in the franchise. We are disappointed, but respect Disney’s decision not to have him continue as a lead producer of our next live action Spider-Man film,” a Sony spokesperson said. “We hope this might change in the future, but understand that the many new responsibilities that Disney has given him – including all their newly added Marvel properties – do not allow time for him to work on IP they do not own. Kevin is terrific and we are grateful for his help and guidance and appreciate the path he has helped put us on, which we will continue.”

ORIGINAL STORY: In a shocking twist that’s almost as severe as Thanos’ Snap, Spider-Man won’t be a key character in the next phases of the Marvel Cinematic Universe.

According to Deadline, the deal between Sony and Marvel Studios to co-finance the last two Spider-Man movies failed to materialize into a win-win situation. Disney wanted a 50/50 co-financing agreement, but Sony’s reps, Tom Rothman and Tony Vinciquerra, wanted to adjust the deal to their favor. Sony reportedly wanted to have a lesser stake in the financing, but an equal profit share for the movie’s box office returns. Of course, this proved to be too much of a compromise for Disney, leading to an unresolved dispute. In the end, Sony opted out of the deal entirely, leaving the MCU without the web-slinger moving forward.

The news comes after Spider-Man: Far From Home crossed the $1 billion mark, besting 2012’s James Bond entry, Skyfall.

Spider-Man: Into the Conundrum-verse

It’s a shame, seeing how well the character performed as a part of the Marvel Cinematic Universe. Not once did Feige have a flop under his Marvel Studios leadership, and it could have made the studio’s track a little more interesting for the next phase. Despite the end of the Sony-Marvel partnership, Spider-Man actor Tom Holland remains attached to the role, after having signed on to six Spidey films beginning in 2016’s Captain America: Civil War. But it does look like another film was added to Holland’s belt, making it a total of seven films—at least according to Deadline. Spider-man: Homecoming and Far From Home director Jon Watts’ fate as the director also remains to be seen, as no deal has been set for him to helm the next two Spider-Man movies as of yet.

The end of the studios’ partnership places Spider-Man in dire straits. That Sony can’t use the events of the Spider-Man MCU in the next films causes a major dilemma that the studio would have to address when re-introducing the character. A crossover with Tom Hardy’s Venom seems plausible, but unlikely in terms of narrative and origin. For one, the symbiote originally came from Peter Parker in the comics, whereas the movie had it directly attaching itself to Eddie Brock. Spider-Man suddenly appearing in Venom would be an awkward transition. And it also looks like Sony is establishing Venom as a hero, with him set to go head-to-head with Woody Harrelson’s Cletus Kasady, AKA Carnage, in Venom 2.

But in the midst of all the conundrum, sources say that Sony believes it will do fine without Feige at the creative helm. Given their success with Venom and Spider-Man: Into the Spider-verse, the studio seems pretty confident that they can execute the character from the groundwork laid for him by the MCU.

Alternatively, Sony is dead set in building its own “Spider-Man Cinematic Universe” with Andy Serkis directing Venom 2, Jared Leto debuting as the villain Morbius, and upcoming projects Kraven the Hunter and Silver Sable and Black Cat.