Sony Pictures and Marvel have found a way to get back in the Spider-Man business together.

Sony Pictures Entertainment and The Walt Disney Studios jointly announced that Marvel Studios and its President Kevin Feige will produce the third film in the "Spider-Man: Homecoming" series, starring Tom Holland. The film is scheduled for release on July 16, 2021. As part of the arrangement, Spider-Man will also appear in a future Marvel Studios film. Amy Pascal will also produce through Pascal Pictures, as she has on the first two Holland-led films.

"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," said Feige. "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."

Read more: Tom Holland reacts to Spider-Man being back in the MCU after Marvel and Sony end their feud: 'I'm not leaving'

Over the summer, news broke that the Disney, Marvel's parent company, and Sony had reached an impasse over a new financing deal. Disney wanted the film to be financed on a 50/50 basis with Marvel Studios chief Feige remaining in a consulting producer capacity. Sony is believed to have proposed keeping the arrangement under the current terms, which stipulate that Marvel receives about 5% of first-dollar gross and all merchandising revenues.

More to come…