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The two studios had been locked in a dispute over the rights to the character that seemed to have shut the door on Spidey's continued involvement in the gigantic superhero franchise.
Apparently, the young British actor made a series of heartfelt and impassioned pleas to Disney - the owners of Marvel - CEO Bob Iger and Sony chief Tom Rothman urging them to find a way to get Peter Parker back into the MCU.
A source told The Hollywood Reporter: "The star, 23, made multiple appeals to Disney chairman and CEO Bob Iger and Sony film chairman Tom Rothman to reach a resolution, announced Sept. 27, for Marvel to produce a third Spider-Man movie for Sony, and for the character to appear in at least one additional Disney-Marvel film."
What's more, it worked.
Sony and Disney/Marvel eventually reached a compromise and Holland - who had also reportedly used his appearance in Sony video game Uncharted as leverage - celebrated by sharing a famous clip for Martin Scorsese's The Wolf of Wall Street to celebrate.
You know the one - "I'm not f***ing leaving."
So, the upshot of this is that there will be a third Spider-Man film produced by Marvel, with studio supremo Kevin Feige in line to produce.
Feige released a statement of his own that said: "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.
"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."
Amy Pascal, who produced the first two Tom Holland solo Spider-Man films and will also produce the third, said: "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."
This also means that Holland's Spider-Man is also free to appear in the Venom franchise, which could be interesting. Tom Holland and Tom Hardy, in the same film?
Intriguing stuff, indeed.