Marvel fans get your hands up in the air because this calls for a celebration. For those of you who’ve not been scrolling through social media over the weekend, let me give you the good news. On Saturday, Marvel and Sony announced that they brokered a deal to keep Spider-Man within the MCU. What’s more? Both the production houses will co-produce the third installment of Spider-Man played by Tom Holland. The movie is slated for release on 16th July 2021. Speaking about the good news to Variety Kevin Feige seemed just as excited as us about this development.

He said:

I am thrilled that Spidey’s journey in the MCU will continue, and I and all of us at Marvel Studios are very excited that we get to keep 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.

Earlier this year, Marvel and Sony had a rift when Marvel wanted a bigger cut of the gross revenue percentage made from the films than Sony was said to be offering. They’ve co-produced two successful movies Spider-Man: Homecoming and Spider-Man: Far From Home. Marvel had sold the rights to the Spider-Man films to Sony back in 1996 when they filed for bankruptcy. Fans were devastated when they found out about the rift and how Spidey would no longer be a part of the MCU. This was even harder to digest especially because Peter Parker was set up to take up Iron Man‘s legacy in the upcoming movies. Now with Spidey back in the Marvel Cinematic Universe, we can expect to see him in movies other than the third Spider-Man movie.

We couldn’t be happier about this development. We’re glad that Marvel and Sony buried their hatchet for the great good.