Kevin Feige, president of Marvel Studios, will no longer produce any "Spider-Man" films because Sony and Disney failed to end their monetary deal on good terms. There has been a long, continuing discussion between top executives of the two studios.
According to reports published by Deadline, Disney has asked Sony for a "50/50 co-financing agreement" for the future "Spider-Man" movies. They also wanted the same agreement for the future films of "Spider-Man Universe."
The heads of Sony, Tom Rothman and Tony Vinciquerra, came up with a deal that meant they will continue sharing "5% of first-dollar gross" with Marvel. This deal was just not acceptable to Disney studios.
Despite the setback, there will not be much free time for Feige. He has a lot on his plate including the "X-Men Universe," the "Deadpool" franchise and architecting the new generation of Marvel superheroes. He is also planning on making movies and shows for Disney+. Sources close to Deadline have mentioned that Feige loved Spider-Man because he was one of the biggest superheroes in the Marvel Universe. Feige would have loved to continue if the studios had come to terms.
Sony Studios later released a statement saying: "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."
Sony Pictures also tweeted: "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."
In the third tweet, they mentioned: "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."
Comments have been flooding Twitter. A commentator said: "Ooh my spidey.....Come on MCU, take him from Sony now...."
Another comment said: "I am very sad for Tom Holland. Marvel Studios family team and very much liked cast actors MCU, his own character Spiderman with other the heroes..."
The 23-year-old Tom Holland was introduced to the Marvel Universe as Spider-Man by Joe & Anthony Russo, who directed the 2016 blockbuster "Captain America: Civil War."
Kevin Feige broke records after Disney's "Avengers: Endgame" became the highest-grossing film of all time. Immediately after that came "Spider-Man: Far From Home," which even beat James Bond film "Skyfall" and became the highest-grossing film for the Sony Pictures.