Spider-Man: Far From Home was recently declared Sony’s highest-grossing film of all time and it seems that may end up being bad news for Marvel fans. According to Deadline, Disney and Sony have officially failed to reach a co-financing agreement, meaning Peter Parker will no longer be a member of the Marvel Cinematic Universe.  

This means that Marvel Studios president Kevin Feige will no longer be serving a producing role on the two upcoming Spider-Man movies in the works. With Feige’s recent Avengers: Endgame being named the highest-grossing film of all-time, there is a lot of money on the table.

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Disney apparently offered up a 50/50 split of all earnings from Spider-Man films going forward; to which, Sony replied with a flat rejection. “Sony turned that offer down flat, and I don’t believe they even came back to the table to figure out a compromise. Led by Tom Rothman and Tony Vinciquerra, Sony just simply didn’t want to share its biggest franchise. Sony proposed keeping the arrangement going under the current terms where Marvel receives in the range of 5% of first dollar gross, sources said. Disney refused.” the Deadline report reads.

With sequels to both Venom and Spider-Man: Into the Spider-Verse already on the way, as well as the upcoming Spider-Man movies, Sony thinks they’ll be just fine without Marvel’s support. As for Marvel, Spidey has played an important role in the recent Avengers films and his absence will certainly be missed.