UPDATE: Variety reports that a deal could still be reached between Disney and Sony. Furthermore, a Sony rep told io9 that the dispute is allegedly over a producer credit and that "negotiations are ongoing."
Marvel Studios will not produce any future Spider-Man films due to a standoff between The Walt Disney Company and Sony Pictures.
According to Deadline, the decision stems from "an inability by Disney and Sony Pictures to reach new terms that would have given the former a co-financing stake going forward." As for the next two currently planned Spider-Man films, both Homecoming and Far From Home director Jon Watts, as well as actor Tom Holland are expected to return. However, Marvel's involvement in the project is doubtful, as Marvel Studios President Kevin Feige has been "essentially nixed" by Sony.
It seems Disney asked for all future Spider-Man projects to be a 50/50 co-financing arrangement between Marvel and Sony but the latter declined. Instead, Sony proposed leaving the current deal untouched, meaning Marvel would continue to receive approximately 5% of first-dollar gross while maintaining merchandising rights, which Disney refused. This, of course, comes hot on the heels of Spider-Man: Far From Home cementing itself as Sony's highest-grossing film of all time, albeit with Marvel's help.
Nevertheless, Sony is reportedly optimistic about the future of the Spider-Man franchise, even without the helping hand of Marvel, as the studio believes it's already set a solid foundation to build off of with Homecoming and Far From Home.
Now in theaters, director Jon Watts’ Spider-Man: Far From Home stars Tom Holland, Samuel L. Jackson, Zendaya, Cobie Smulders, Jon Favreau, JB Smoove, Jacob Batalon and Martin Starr, with Marisa Tomei and Jake Gyllenhaal.