Sony Pictures and Walt Disney’s Marvel division are patching up their relationship after a high-profile split rocked Hollywood. The two companies have agreed to co-produce the next ‘Spider-Man’ movie, ending a dispute that clouded the future of one of the industry’s biggest franchises.
The compromise gives Disney a 25 per cent share of the profit from the film, according to a person with knowledge of the situation. The studio had been requesting as much as 50 per cent previously, said the source, who asked not to be identified because the terms are private.
As part of the pact, Spider-Man will also be featured in a future Marvel Studios movie, the companies said last Friday. Amy Pascal, former chairman of Sony’s film studio, will produce the next stand-alone ‘Spider-Man’ film, scheduled for release on July 16, 2021.
The two sides had previously been unable to agree on new terms for their partnership and the dispute splashed into public view last month.
A falling-out would have kept Marvel president Kevin Feige, known for ensuring Marvel’s quality control, from working on new ‘Spider-Man’ films.
It also would have kept Sony’s character from appearing in separate Disney movies, banishing the character from the so-called Marvel Cinematic Universe (MCU).
With the matter resolved, Tom Holland will now reprise the title role of Spider-Man in the new picture. He was also featured in the MCU films, including this year’s ‘Avengers: Endgame’.
Straits Times
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