In news that will surely shock the fanboy stratosphere for months to come, Sony Pictures Entertainment has just announced that the olive branch has been extended and Marvel has been brought into Spider-Man's web. 

Here are some of the details from the press release:  

Under the deal, the new Spider-Man will first appear in a Marvel film from Marvel’s Cinematic Universe (MCU). Sony Pictures will thereafter release the next installment of its $4 billion Spider-Man franchise, on July 28, 2017, in a film that will be co-produced by Kevin Feige and his expert team at Marvel and Amy Pascal, who oversaw the franchise launch for the studio 13 years ago. Together, they will collaborate on a new creative direction for the web slinger. Sony Pictures will continue to finance, distribute, own and have final creative control of the Spider-Man films.

The new relationship follows a decade of speculation among fans about whether Spider-Man – who has always been an integral and important part of the larger Marvel Universe in the comic books – could become part of the Marvel Universe on the big screen. Spider-Man has more than 50 years of history in Marvel’s world, and with this deal, fans will be able to experience Spider-Man taking his rightful place among other Super Heroes in the MCU.

This story is still developing, so stay tuned for further developments. But one thing is for certain: if any Marvel property needed a facelift, it was Spider-Man. Kevin Fiege co-commanding the ship means exciting things are in store for Sony's most lucrative franchise. 

UPDATE: 

Here's how Phase 3 of the Marvel Cinematic Universe slate has been impacted by the inclusion of Spider-Man into the fold:  Thor: Ragnarok will be bumped to Nov. 3, 2017 from its original July 28, 2017 date. Black Panther, starring Chadwick Boseman, is now opening July 6, 2018 instead of Nov. 3, 2017. Captain Marvel will be pushed back to Nov. 2, 2018 from July 6, 2018. And lastly, Inhumans is now positioned for July 12, 2019, rather than Nov. 2, 2018.