Marvel Studios President Kevin Feige will not be producing any further Spider-Man films due to a breakdown in negotiations between Disney and Sony Pictures, according to a new report by Deadline. The dispute between the studios was regarding Disney’s request for an increased stake regarding the financing of the films that have resulted from this partnership so far.

According to the report, Disney asked that future Spider-Man films be a straight 50-50 co-financing agreement between the studios, with some discussion that this might extend to other films in Sony’s Spider-Man franchise. Sony turned this offer down flat; Disney was not interested in continuing the current terms of the agreement, leading to the fallout.

Spider-Man’s theatrical relaunch within the context of the Marvel Cinematic Universe has been beneficial to both studios, with Spider-Man: Homecoming grossing $880 million worldwide, and Spider-Man: Far From Home having crossed $1.1 billion.

Deadline’s sources said that Sony believes they will be fine without Disney’s involvement, as Venom grossed $856 million and earned itself a sequel, and Spider-Man: Into the Spider-Verse took home the Academy Award for Best Animated Picture.

Sony’s response to Deadline’s original story read that “Much of today’s news about Spider-Man has mischaracterized recent discussions about Kevin Feige’s involvement in the franchise. We are disappointed, but respect Disney’s decision not to have him continue as a lead producer of our next live-action Spider-Man film. 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. Kevin is terrific and we are grateful for his help and guidance and appreciate the path he has helped put us on, which we will continue.”