Sony blamed Disney for the Spider-Man deal falling apart and said it hoped 'this might change in the future'

• Sony released a statement late Tuesday saying that it was Disney's decision not to have Marvel Studios president Kevin Feige involved with future Spider-Man movies.
• "We hope this might change in the future, but understand that the many new responsibilities that Disney has given him - including all their newly added Marvel properties - do not allow time for him to work on IP they do not own," Sony said.
• Sony owns the film rights to Spider-Man and 900 related characters and struck a deal with Marvel Studios in 2015 for the character to appear in the MCU.
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Spider-Man's time in the Marvel Cinematic Universe - at least as we know it - seems be over.

Sony Pictures released a statement late Tuesday night, blaming Disney for the two companies' inability to not reach a deal over the superhero web-slinger's movie appearances.

The full statement, provided to Business Insider, is below:

Sony left open the possibility of a deal being reached in the future in its statement, but alluded to Disney's recent acquisition of Fox - and all of its Marvel characters, including the X-Men - as a reason for the deal's implosion.

Disney did not immediately respond to a request for comment from Business Insider.

Deadline reported on Tuesday that Sony and Disney had failed to come to an agreement over Spider-Man's future in the MCU. Disney wanted an even 50/50 cofinancing stake in future "Spider-Man" movies, according to Deadline, while Sony wanted to keep the deal as is, where Marvel receives up to 5% of first-dollar gross and any merchandising revenue.

Sony hopes that star Tom Holland and director Jon Watts will return for two more Spider-Man movies, according to Deadline. Marvel Studios and Kevin Feige would not be involved unless something changes between now and then, meaning those movies would not include appearances from other MCU characters.

Sony has owned the film rights to Spider-Man and 900 related characters since 1998, and can keep them as long as it releases a Spider-Man movie every five years. It struck a deal with Marvel Studios in 2015 where Spider-Man would appear in the MCU, but Sony would retain distribution rights.