Spider-Man is back in Disney’s web.

After a temporary breakup, Sony Pictures and Marvel have rekindled their partnership in the Spider-Man franchise.

Sony announced it was “disappointed” not to be collaborating with Disney on future Spider-Man films in August after reports that they couldn’t reach a new agreement over the web-slinging superhero.

Sony Pictures Entertainment and Walt Disney announced on Friday that they had reached an agreement to collaborate on a third Spider-Man picture starring Tom Holland, a month after the two studios parted ways over a rumored profit-sharing dispute.

In a statement to USA TODAY, Marvel president Kevin Feige stated he was “thrilled that Spidey’s journey in the MCU will continue.”

“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,” the statement continued. “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,” producer Amy Pascal said in the same statement. “This has been a winning partnership for the studios, the franchise and the fans and I’m overjoyed it will continue.”

In the previous two Spider-Man films, Feige played a key creative role, effectively integrating Holland’s character into the multibillion-dollar Marvel Cinematic Universe (MCU).

The news surfaced during the summer that Disney, Marvel’s parent corporation, and Sony had come to an impasse over a new funding arrangement. Disney wanted the picture to be financed in a 50/50 split, with Feige serving as a consultant producer. Sony is thought to have recommended maintaining the deal on its present terms, which include Marvel receiving approximately 5% of first-dollar gross and all merchandise income.

The agreement implies that Marvel Studios President Kevin Feige, who was recently hired to develop a “Star Wars” picture, will produce the third installment, which will be released on July 16, 2021.

The new contract was finalized late Thursday night. Top executives from both companies were involved in the talks, including Sony Pictures CEO Tom Rothman, Feige, and Walt Disney Studios co-chairs Alan Horn and Alan Bergman. According to sources, Marvel and Disney will earn about 25% of the revenues in exchange for lending Feige’s producing skills. Disney will keep its merchandising rights and contribute around a quarter of the money.

Sony Pictures’ Robert Lawson said they were “delighted to be moving forward together”.

In an Instagram post, Holland looked to be overjoyed by the news, posting a clip from Martin Scorsese’s film “The Wolf of Wall Street,” in which Leonardo DiCaprio exclaims, “I’m not [expletive] leaving! The show goes on!”

The Spider-Man character has been owned by Sony since 1985, but in 2015, the studio established a collaboration with Disney and Marvel that allowed the webslinger to appear in MCU crossover films such as “Captain America: Civil War” and “Avengers: Infinity War.”

With 2017’s “Spider-Man: Homecoming,” the studio was able to emulate the creative energy of the previous series by bringing Marvel and Kevin Feige back into the fold. It also benefited from the presence of Holland’s web-slinger in the Avengers films, with Spidey becoming a crucial member of the super-team. Sony expressed its delight with the agreement achieved.