After a sour disagreement not too long ago, Disney/Marvel and Sony have surprisingly struck a new deal last week where Marvel would make another Spider-Man movie for Sony.

According to Variety, the negotiations had involved the top people from both companies including Sony Pictures chairman Tom Rothman, Marvel Studios president Kevin Feige and Walt Disney Studios co-chairs Alan Horn and Alan Bergman. The new deal has Sony having Feige as producer while Marvel and Disney get about 25% of the profits with Disney keeping its merchandising rights and providing about a quarter of the financing.

Feige is reportedly happy that Spider-Man’s journey in the Marvel Cinematic Universe will resume and that Marvel Studios are excited to continue working on it.

“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,” he said.

Tom Holland is set to reprise his role as the titular character. And like the first two films in the series, Amy Pascal will also continue as co-producer through Pascal Pictures.

Pascal commented, “This is terrific. 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.”

Sony Pictures’ chief communications officer Robert Lawson also shares the same sentiments: “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.”

The new Spider-Man film starring Holland is expected to come out on 16 July 2021.