Date: September 27, 2019
Spider-Man is officially back in action, after briefly breaking up, Sony Pictures and Disney/Marvel have found a way to get back in the Spider-Man business together. On Friday, the two companies jointly announced that Marvel Studios and its president, Kevin Feige, will produce the third film in the “Spider-Man: Homecoming” series.
Over the summer, news broke that the Disney/Marvel and Sony had reached an impasse over a new financing deal. Disney wanted the film to be financed on a 50/50 basis, with Feige remaining in a consulting producer capacity. Sony is believed to have proposed keeping the arrangement under the current terms, which stipulate that Marvel receives about 5% of first-dollar gross and all merchandising revenues.
The new deal was signed late on Thursday night. Negotiations involved top players from both studios, including Sony Pictures chief Tom Rothman, Feige and Walt Disney Studios co-chairs Alan Horn and Alan Bergman. In exchange for lending Feige’s producing prowess, Marvel and Disney will receive roughly 25% of the profits, according to insiders. Disney will retain its merchandising rights and will put up roughly a quarter of the financing. As part of the arrangement, Spider-Man will also appear in one future Marvel Studios film, and depending on how things go, more movies could be in the offing.
The film is scheduled for release on July 16, 2021. Amy Pascal will also produce through Pascal Pictures, as she has on the first two Holland-led films.
“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.”
Pascal was equally euphoric in her statement. “This is terrific”, she said. “Peter Parker’s story took a dramatic turn in ‘Far From Home’ and I could not be happier we will all be working together as we see where his journey goes.”
“We have had a great collaboration over the last four years, and our mutual desire to continue was equal to that of the many fans. We are delighted to be moving forward together”, beamed a Sony spokesperon this morning.
Published by: Jad Jradi