Sad news, Spidey fans. Despite hopes Marvel Studios and Sony could still come to an agreement following their impasse over future Spider-Man films, Sony has confirmed the character will not feature in the Marvel Cinematic Universe for the foreseeable future.

Axar.az reports citing Ladbible that Sony Chairman and Chief Executive Officer Tony Vinciquerra broke the news at Variety's Entertainment & Technology Summit, stating that 'the door is closed' on future collaborations.

It's a shame because the MCU is arguably the place to be in cinema right now. Avengers: Endgame recently became the highest-grossing film of all time and Spider-Man: Far From Home recently crossed the billion-dollar threshold at the box office - making it Sony's biggest film ever.

Business is booming, basically.

Well, now the two studios have decided that they can no longer work together. It seems as if disagreement over the co-funding relationship for future films led to Marvel supremo Kevin Feige simply walked away from negotiations.