Update, August 21,2019, 11:15 AM: Sony Pictures has released an official statement via Twitter, mostly focusing on what happened with regard to Kevin Feige's producer role:
Much of today’s news about Spider-Man has mischaracterized recent discussions about Kevin Feige’s involvement in the franchise. We are disappointed, but respect Disney’s decision not to have him continue as a lead producer of our next live action Spider-Man film. We hope this might change in the future, but understand that the many new responsibilities that Disney has given him—including all their newly added Marvel properties—do not allow time for him to work on IP they do not own. Kevin is terrific and we are grateful for his help and guidance and appreciate the path he has helped put us on, which we will continue.
Deadline Hollywood reports that future blockbuster films in the Marvel Cinematic Universe will likely be missing a key figure: Spider-Man. Apparently, Sony Pictures and Disney/Marvel have failed to reach new terms for the franchise acceptable to both parties. That means Marvel Studios President Kevin Feige will not be a producer on the next two Spider-Man movies reportedly in the works.