There’s harmony in the Spider-verse once more: After weeks of a standoff, Disney and Sony have reached a deal to jointly produce a third Spider-Man movie starring Tom Holland.

The sequel to Spider-Man: Homecoming and Far From Home will hit theaters July 16, 2021, with Holland once again suiting up as the webslinger.

In a joint announcement Friday, the two companies revealed that Marvel Studios president Kevin Feige will return to produce the new film, with Amy Pascal once again producing through her Pascal Pictures.

Image zoom Jay Maidment/Sony

As part of Disney and Sony’s arrangement, Spider-Man is also confirmed to appear in a future film in the Marvel Cinematic Universe.

“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,” Feige said in a statement. “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.”

“This is terrific. Peter Parker’s story took a dramatic turn in Far From Home and I could not be happier we will all be working together as we see where his journey goes,” Pascal said. “This has been a winning partnership for the studios, the franchise and the fans and I’m overjoyed it will continue.”

In August, news broke that Marvel would be ending its deal with Sony on the Spider-Man franchise, thanks to a disagreement over co-financing. Sony has long held the film rights to Spider-Man and connected comics characters, but several years ago, the studio struck a deal with Marvel to allow Spidey to appear in the Marvel Cinematic Universe, with Feige helping to produce Holland’s solo Spider-Man films.

Holland first suited up as Peter Parker in 2016’s Captain America: Civil War and quickly became a fan favorite. This summer’s Spider-Man: Far From Home became Sony’s highest-grossing film of all time, earning more than $1.1 billion worldwide.

At Disney’s D23 Expo in August, Holland broke his silence on the Disney-Sony rift and spoke to EW, reiterating that he was committed to keep playing Spider-Man no matter what.

“Basically, we’ve made five great movies,” he told EW at the time. “It’s been five amazing years. I’ve had the time of my life. Who knows what the future holds? But all I know is that I’m going to continue playing Spider-Man and having the time of my life. It’s going to be so fun, however we choose to do it. The future for Spider-Man will be different, but it will be equally as awesome and amazing, and we’ll find new ways to make it even cooler.”

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