This story has been updated since original publish with new reports from the trades and our own sources.

Spider-Man's future in the MCU remains in doubt due to a series of reports detailing a breakdown of negotiations between Sony Pictures and Disney/Marvel, with the latest reports indicating that the two studios will no longer collaborate on any Spider-Man movies going forward. Sony has since placed the blame firmly at Marvel's doorstep , releasing an official statement saying the studio is "disappointed, but respect Disney’s decision not to have [Kevin Feige] continue as a lead producer of our next live action Spider-Man film."

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Ranking the Spider-Man Movies 12 IMAGES

Fox Movie and TV Show Properties Headed to Disney 18 IMAGES

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Deadline first reported that Marvel will not produce any further Spider-Man films in the Marvel Cinematic Universe , due to an inability between Sony Pictures and Disney to reach new terms that would have given Disney a larger co-financing stake (and share of the profits) on any Spider-Man films moving forward. Later, Variety reported that Sony and Marvel have reached an impasse in negotiations with a source indicating that “a deal might still be reached between Disney and Sony but there are no talks currently going on." The Hollywood Reporter took a more definitive stance: "[Sony] is set to part ways with Marvel Studios, the film's co-producer, The Hollywood Reporter has confirmed."According to THR, "Sony film studio chief Tom Rothman and Marvel president Kevin Feige have been talking for months. In the end, neither party was willing to cede enough ground to come to an agreement, leading to the breakup of the partnership and removal of Feige from his producing role on any future Spider-Man movies from Sony."While one source told IGN that negotiations are ongoing, a separate source indicated to IGN that Deadline's initial report is accurate and talks have stalled, which seems to have been confirmed by Variety and THR's reporting, and Sony's subsequent statement.A dispute at the top levels of both companies has essentially resulted in Feige being nixed from future Spider-Man projects, according to Deadline's original report. Disney had allegedly asked for a 50/50 co-financing agreement between the two studios on future Spider-Man films. Again, according to Deadline's sources, Sony turned that offer down. Sony proposed keeping the arrangement similar to the terms that dictated the first two Spider-Man MCU films, such that Disney would only receive 5 percent of first dollar gross. Disney reportedly refused that deal. If the two parties don't return to the negotiating table at some point in the future, Tom Holland's Spider-Man is not expected to appear in any further MCU movies."First dollar gross" is a practice in film-making finances that means a participant earns a percentage of the film's box office revenue on the first day of release. Stars like Leonardo DiCaprio used this practice on Inception, making more than double his usual rate as an actor because of the film's unexpected success.Of course, Deadline's report may have been a purposeful leak intended to rile up Marvel fans to try and force the two companies back to the bargaining table, given how beloved (and seemingly integral) Holland's iteration of Spider-Man is in the MCU, but it seems that neither Sony nor Marvel are currently willing to budge.Deadline's sources say that Disney CEO Bob Iger had spent the past several months attempting to broker a new agreement for continued Marvel and Sony partnerships. Deadline's sources also say that Sony has reasoned that the studio will manage without Feige.It's easy to see why Sony might play hardball with Spider-Man. Spider-Man: Far From Home became Sony's highest-grossing film ever in August, reaching $1.109 billion in global box office revenue and beating its previous record holder, the James Bond 2012 film Skyfall, while Spider-Man: Into the Spider-Verse also proved to be a massive box office success, racking up more than $375 million worldwide on a budget of only $90 million, and becoming the first animated film from a studio other than Disney to win the Oscar for Best Animated Feature since 2011's Rango.This is also potentially why Marvel Studios declined to announce a new Spider-Man film at San Diego Comic-Con 2019. Sony still holds the screen rights to Spider-Man solo films and is also the distributor, going all the way back to Sam Raimi's 2002 Spider-Man. Marvel, however, owns all the merchandising rights to Spider-Man.Deadline's sources state that two additional Spider-Man movies are in the works, and that actor Tom Holland and Homecoming and Far From Home director Jon Watts will still be participating. Producer Amy Pascal, who has worked on every Spider-Man film universe entry since Homecoming (including Venom and Spider-Verse) will also stay on. UPDATE: Deadline later clarified their reporting and said Jon Watts is not currently attached to direct the next Spider-Man movie . IGN has reached out to Sony and Watts' teams for comment. Holland is contracted for one more Spider-Man solo movie.Meanwhile, Disney completed its acquisition of 21st Century Fox back in May, spending $71.3 billion dollars to take over the studio's intellectual properties. Those include the multitude of X-Men properties, Deadpool, Fantastic Four, and others.It's worth noting that Sony Pictures' 2018 Venom movie managed to gross over $800 million worldwide , and the announced sequel, Venom 2, will be directed by Andy Serkis . An interesting detail revealed in the Deadline story is that Feige apparently "lent an unofficial hand" in the development of Venom.Disney's $4 billion investment in Marvel Studios has since earned Disney more than $18 billion Speaking of Avengers, while all of this was going down, we finally -- FINALLY -- got to see the first raw gameplay of Marvel's Avengers , the upcoming game for PlayStation 4, Xbox One, PC, and Stadia. Check it out below:

Joseph Knoop is a writer/producer for IGN, and holy cow, right?Jim Vejvoda contributed to this report.