The Hollywood Reporter has additional details on the announced deal between Marvel Studios and Sony Pictures Entertainment that will see Spider-Man included in an unnamed Marvel movie and a new solo film from Sony on July 28, 2017. Marvel Studios President Kevin Feige and Amy Pascal, who will be enjoying a new production deal from Sony, will co-produce the solo feature.

The new details show that no money has exchanged hands between the studios. Sony gets a much needed shot in the arm for Spider-Man via his inclusion in a Marvel film while Marvel gets to continue enjoying all the merchandising revenue Sony’s Spidey films generate. Sony still holds creative control for Spider-Man films, as we already know, and this includes final approval over casting a new Spider-Man.

Yes, Andrew Garfield is out. Sony will look for a younger actor to play Spider-Man in that unnamed Marvel film, which many believe will be CAPTAIN AMERICA: CIVIL WAR. That film shoots in April, so if Spider-Man is going to be in it, expect that casting search to be conducted and concluded rather quickly.

Marc Webb, who directed the last two AMAZING SPIDER-MAN films for Sony, is also out. Franchise producers Matt Tolmach and Avi Arad will serve as executive producers going forward.

As noted in the original announcement, Marvel and Sony will explore opportunities to include MCU characters in future Spider-Man films. THR’s sources acknowledge that this could be the first step in Marvel acquiring the movie rights to Spider-Man in full, or in an even bigger step than that, Disney acquiring Sony should the latter become available.