Spider-Man will be leaving the Marvel Cinematic Universe as the studio hits a stalemate with licensee Sony Pictures over the future financing and profit sharing of the legendary character's films.
Sony Pictures - who licences the famous character to Marvel - has reportedly hit a stalemate with the studio over the financing and profit-sharing of the future 'Spider-Man' movies, leading to the exit of Marvel boss Kevin Feige from the franchise.
In a statement, Sony's spokesperson said: "Much of today's news about' Spider-Man'845, has mischaracterised recent discussions about Kevin Feige's involvement in the franchise. 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.
Much of today’s news about Spider-Man has mischaracterized recent discussions about Kevin Feige’s involvement in the franchise. 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. (1/3)
— Sony Pictures (@SonyPictures) August 21, 2019
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. 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."
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. (2/3)
— Sony Pictures (@SonyPictures) August 21, 2019
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. (3/3)
— Sony Pictures (@SonyPictures) August 21, 2019
There has been several months of negotiations between the Disney-owned Marvel Studios and Sony Pictures to change the original deal, which saw Marvel collect five per cent of the profits of "Spider-Man: Homecoming' and "Spider-Man: Far From Home". Going forward, Marvel seemed sure they could find a deal as the character - which is currently played by Tom Holland - was billed to be "the Next Tony Stark" in the Marvel franchise.
The stalemate between Sony Pictures and Disney reportedly came when the latter asked for financing and profits to be split 50 / 50, which would mean Disney and Marvel would have a huge increase in profits, with the previous film grossing a whopping R16.7 billion worldwide.