After numerous rumors Marvel Studios & Sony Pictures Entertainment have finally worked on a deal to bring in Spider-Man to Marvel Cinematic Universe.

The next installment of Spider-Man franchise will be produced by president of Marvel Studios, Kevin Feige with Sony’s Amy Pascal.

“Under the deal, the new Spider-Man will first appear in a Marvel film from Marvel’s Cinematic Universe (MCU).

Sony Pictures will thereafter release the next installment of its $4 billion Spider-Man franchise, on July 28, 2017, in a film that will be co-produced by Kevin Feige and his expert team at Marvel and Amy Pascal, who oversaw the franchise launch for the studio 13 years ago.

Together, they will collaborate on a new creative direction for the web slinger. Sony Pictures will continue to finance, distribute, own and have final creative control of the Spider-Man films.

Marvel and Sony Pictures are also exploring opportunities to integrate characters from the MCU into future Spider-Man films.

The new relationship follows a decade of speculation among fans about whether Spider-Man – who has always been an integral and important part of the larger Marvel Universe in the comic books – could become part of the Marvel Universe on the big screen.

Spider-Man has more than 50 years of history in Marvel’s world, and with this deal, fans will be able to experience Spider-Man taking his rightful place among other Super Heroes in the MCU.”

“Spider-Man is one of Marvel’s great characters, beloved around the world. We’re thrilled to work with Sony Pictures to bring the iconic web-slinger into the Marvel Cinematic Universe, which opens up fantastic new opportunities for storytelling and franchise building,” said Walt Disney’s Chairman and CEO, Bob Iger.

“We always want to collaborate with the best and most successful filmmakers to grow our franchises and develop our characters, said Sony Pictures Entertainment Chairman and CEO, Michael Lynton.

Marvel, Kevin Feige and Amy, who helped orchestrate this deal, are the perfect team to help produce the next chapter of Spider-Man. This is the right decision for the franchise, for our business, for Marvel, and for the fans.”

“Sony Pictures and Marvel Studios share a love for the characters in the Spider-Man universe and have a long, successful history of working together. This new level of collaboration is the perfect way to take Peter Parker’s story into the future,” adds Sony Pictures Entertainment Motion Picture Group President, Doug Belgrad.

“I am thrilled to team with my friends at Sony Pictures along with Amy Pascal to produce the next Spider-Man movie, said Marvel Studios President, Kevin Feige.

Amy has been deeply involved in the realization on film of one of the world’s most beloved characters. Marvel’s involvement will hopefully deliver the creative continuity and authenticity that fans demand from the MCU.

I am equally excited for the opportunity to have Spider-Man appear in the MCU, something which both we at Marvel, and fans alike, have been looking forward to for years.”

The announcement has pushed back the release date of upcoming Marvel movies:

Thor: Ragnarok moved from July 28, 2017 to November 3, 2017.
Black Panther moved from November 3, 2017 to July 6, 2018.
Captain Marvel moved from July 6, 2018 to November 2, 2018.
Inhumans moved from November 2, 2018 to July 12, 2019.

Here’s the list of movies which will hit theaters before Spider-Man:

Avengers: Age of Ultron – May 1, 2015
Ant-Man – July 17, 2015
Captain America: Civil War – May 6, 2016
Doctor Strange – November 4, 2016
Guardians of the Galaxy 2 – May 5, 2017

Source: Marvel.