UPDATE 2: Jessica Chobot and the Nerdist News gang have a special video update recapping the news, and a tidbit about the fate of Sony’s Spider-Man spinoffs.

UPDATE: TheWrap is reporting that Andrew Garfield is out as Spider-Man.

CONFIRMED: Andrew Garfield is NO LONGER Spider-Man. Someone new will be cast. First appearance in MCU, then solo film.

— Linda Ge (@lindazge) February 10, 2015

Here’s a scoop that’d make J. Jonah Jameson swallow his cigar: Sony and Marvel Studios have officially closed a deal that will bring Spider-Man into the Marvel Cinematic Universe. That’s right, True Believers — Peter Parker is coming home. Or Miles Morales. We don’t know which one yet, but we’re excited.

According to the deal, Spider-Man will appear in a Marvel Studios-produced Marvel Cinematic Universe film first. Then, Sony will release the next installment in its multi-billion-dollar Spider-Man franchise on July 28, 2017. That film will be co-produced by Amy Pascal, who shepherded the franchise when it first came to Sony, and Kevin Feige, who has transformed Marvel Studios into the powerhouse film studio it is today. Together, Earth’s Mightiest Producers will help chart a new course for Peter Parker and his ailing film series. As part of the deal, Sony Pictures will still finance, distribute, own, and retain final creative control over the Spider-Man films. Still, whatever Mysterio-style trickery Feige worked on the suits over at Sony has just paid off in spades.

In particular, it’s fascinating that they negotiated a clause stipulating that Spidey appear in the MCU prior to 2017. Could that mean a certain wall-crawling cameo in Captain America: Civil War? It would certainly make a lot of fans — myself included — awfully happy. For those of you who are unfamiliar with the Civil War storyline, Spider-Man plays a pivotal role in the comic book version, leading to one of the iconic panels of his storied crimefighting career. Likewise, Marvel and Sony are also looking for ways to integrate other Marvel Cinematic Universe characters into future Spider-Man films, which could be a real boon for the franchise.

In a press release, Feige said, “Marvel’s involvement will hopefully deliver the creative continuity and authenticity that fans demand from the MCU. I am equally excited for the opportunity to have Spider-Man appear in the MCU, something which both we at Marvel, and fans alike, have been looking forward to for years.”

Sony Pictures Entertainment CEO Michael Lynton shared Feige’s sentiments, saying, “This is the right decision for the franchise, for our business, for Marvel, and for the fans.”

We’ll continue to report on this story as it develops.

What do you think of this news? How would you like to see Spider-Man integrated into the MCU? Let us know in the comments below.

[HT: Marvel]