NEW YORK (TheStreet) -- One of history's most iconic superheroes, its rights shared by Sony (SNE) and Disney (DIS), will be brought back to theaters by an actor and director who have little experience with Hollywood's largest film studios.
Spider-Man, Sony Pictures' most successful franchise is being reworked with fresh faces, the director Jon Watts and the actor Tom Holland, for a movie slated to reach theaters in 2017.
As with any franchise, a lot of money will be riding on the film, which is likely to cost more than $200 million to make. Unlike the five previous Spider-Man films, which Sony produced alone, the latest installment of the franchise will be co-produced by Disney's Marvel Studios, putting the firepower of two major studios behind it.
Sony is enlisting Marvel's involvement in hopes of avoiding a repeat of the underwhelming box-office performance turned in by The Amazing Spider-Man 2 a year ago. That film generated $709 million worldwide, falling short of industry expectations and making it the the lowest-grossing of the five movies in the franchise.
Ending months of casting speculation, Sony and Disney announced that Holland will put on Spider-Man's mask for the hero's return. Holland may not be an A-list actor but did have roles in both The Impossible and Wolf Hall. The director Watts' biggest claims to fame is directing Cop Car starring Kevin Bacon, which debuted at the Sundance Film Festival in January, and due for domestic release in August.
There have been rumors that Spider-Man will make an appearance next year in Marvel's Captain America: Civil War, to jumpstart his Sony series revival. Neither studio mentioned that possibility in their statements.