Sony Pictures and Disney's Marvel Studios has come to terms on a new "Spider-Man" movie deal after the two sides parted ways in August. The new deal will have Marvel Studios and its president Kevin Feige produce the third film in Sony's latest "Spider-Man" trilogy starring Tom Holland in the title role. The third film is set to be released in theaters on July 16, 2021. The trilogy started with 2017's "Spider-Man: Homecoming" and continued with "Spider-Man: Far From Home" which hit theaters in July. Spider-Man will also be allowed to appear in one future Marvel Studios film, Variety reported. Holland's wall-crawler has previously appeared in 2016's "Captain America: Civil War," 2018's "Avengers: Infinity War" and "Avengers: Endgame" which was released in April. "I am thrilled that Spidey's journey in the MCU will continue, and I and all us at Marvel Studios are very excited that we get to keep working on it," Feige said in a statement. "Spider-Man is a powerful icon and hero whose story crosses all ages and audiences around the globe," he continued. "He also happens to be the only hero with the superpowers to cross cinematic universes, so as Sony continues to develop their own Spidey-verse you never know what surprises the future might hold." Sony owns the rights to Spider-Man on film. The first deal between Sony and Marvel started with "Captain America: Civil War," allowing the character to be a part of the Marvel Cinematic Universe. The two sides were unable to reach a new agreement in August with Sony stating that it was "disappointed" that the partnership was over.