Further complicating the web of rights, Disney controls Spider-Man merchandising. The more successful they are, the bigger the toy sales.
The high stakes of those discussions were underscored this week after Sony announced that “Spider-Man: Far From Home,” which was produced by Mr. Feige and the former Sony chairwoman Amy Pascal, had surpassed the James Bond movie “Skyfall” as the studio’s top-grossing film of all time since opening July 2. (Sony also scored a hit with the Oscar-winning animated “Spider-Man: Into the Spider-Verse,” which does not take place in the M.C.U.).
News of the split raised concerns among some fans who feared that it could damage both the Spider-Man and Marvel Universe franchises, which have become intertwined since Sony and Marvel announced the Spider-Man partnership in 2015.
“Take away Spider-Man and the Marvel Universe suddenly becomes chillier, more invested in cosmic spectacle than heart,” Adam White, a culture reporter for The Independent, wrote on Wednesday.
Since the two businesses joined forces, Mr. Holland has appeared as Spider-Man in “Captain America: Civil War,” “Spider-Man: Homecoming,” “Avengers: Infinity War,” “Avengers: Endgame,” and “Spider-Man: Far From Home.”
On Wednesday, fans and followers rallied around the Twitter hashtag #SaveSpidey, which was trending on Wednesday, to call on Sony and Disney to reunite.