In a shocking turn of events, Marvel Studios will no longer be involved with the production of Spider-Man movies. After Sony tried (and failed) to launch their own Spider-Man shared universe with the Amazing Spider-Man franchise, the studio struck an unprecedented deal with Marvel Studios, which allowed Peter Parker to become part of the highly-popular Marvel Cinematic Universe. Tom Holland made his debut as the wall-crawler in 2016's Captain America: Civil War and went on to reprise the role four more times, including a pair of successful standalone films.

Holland's most recent turn was in July's Spider-Man: Far From Home, which earned widespread critical praise and recently became Sony's highest-grossing film of all-time at the box office. With the Spider-Man film franchise more fruitful than ever within the friendly confines of the MCU and a third film poised to jump off Far From Home's stunning post-credits scenes, it seemed like the partnership between Sony and Marvel would thrive for years to come. But that assumption would apparently be wrong.

Related: Why Kraven the Hunter is the Best Choice for Spider-Man 3's Villain

According to Deadline, Marvel Studios and Kevin Feige will no longer produce Spider-Man movies. This comes after the two sides failed to reach an agreement that would have given Marvel "a co-financing stake moving forward." According to their report, Sony rejected an offer from Disney that would have seen a "50/50 co-financing arrangement between the studios." Instead, Sony was hoping to simply continue the terms of the initial agreement, but Disney passed on that. Director Jon Watts and Holland remain in place for two more solo Spider-Man movies, which will be overseen by Sony's Amy Pascal. Per Variety, however, it's possible Sony and Marvel could reach a new Spider-Man deal.

Marvel Phase 4 Tom Holland as Peter Parker Spider Man

This means that unless the two parties reconvene and iron out new terms, Spider-Man is out of the MCU. After Far From Home made over $1 billion globally, there will most assuredly be more Spider-Man movies, but they'll happen without the MCU connections and crossovers that fans love. On the surface, this is a big blow since a key component of this Peter Parker was his relationship with Tony Stark and Far From Home explored his dynamic with Happy Hogan. Now, this aspect of the films is gone, and the creative team will need to find ways to write around it. Watts and company will be able to come up with something, but it remains to be seen if it's a satisfying explanation for viewers. Fans were excited to see Spider-Man and related characters (like J. Jonah Jameson) continue to be a part of the larger MCU sandbox.

Even without Spider-Man at their disposal, Marvel Studios has a bevy of characters that can carry the franchise through Phase 4 and beyond. Black Panther and Captain Marvel headlined $1 billion solo films of their own. Thor's standalone series is continuing with Love and Thunder, and Marvel always has new heroes to introduce. Still, Spider-Man is arguably Marvel's most popular character and was set up to be a key figure on a New Avengers roster moving forward. Abruptly, those plans must change, and it'll be interesting to see where both sides go from here. Sadly, just as Disney/Marvel gains the ability to use X-Men and Fantastic Four, they watch Spider-Man head off on his own again.

More: Venom 2: The Most Obvious Way to Introduce Carnage

Source: Deadline, Variety

Key Release Dates