According to The Hollywood Reporter, Sony is "disappointed" Feige will no longer act as a lead producer on future films starring the wall-crawling hero.
“Much of today’s news about Spider-Man has mischaracterized recent discussions about Kevin Feige’s involvement in the franchise,” a Sony spokesperson told THR. “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.”
Sony also goes on to suggest Feige's increased workload, due to the upcoming launch of the Disney+ streaming service and limited series tied to the Marvel Cinematic Universe, is taking up the majority of his time.
“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,” the statement reads. “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.”
The original report claims Marvel's decision to pull out of the deal stemmed 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 and actor Tom Holland are expected to return. There are also signs that Sony's negotiations with Disney's Marvel Studios are ongoing.
Disney reportedly asked for all future Spider-Man projects to be a 50/50 co-financing arrangement between Marvel and Sony, an offer the latter declined. Instead, Sony is said to have proposed leaving the current deal untouched, meaning Marvel would continue to receive approximately 5% of first-dollar gross while maintaining merchandising rights, an offer 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.
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.