While it was earlier reported that Sony Pictures Entertainment and Marvel Studios had parted ways, it was announced today that a reconciliation is on the cards. Both the production giants, along with Walt Disney Studios, will be producing the third film in the current Spider-Man series. 

As part of the deal, Tom Holland's Spider-Man will also appear in a future Marvel Studios film. Amy Pascal, who produced the first two Holland-lead films, will continue to produce through the Pascal Pictures banner.

“I am thrilled that Spidey’s journey in the MCU will continue, and all of us at Marvel Studios are very excited that we get to keep working on it,” said Marvel Studios president Feige. 

“Spider-Man is a powerful icon and a 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 added. 

The third film is scheduled for release on July 16, 2021.