Sony owns the film rights to Spider-Man, currently portrayed by Holland. The studio and Disney couldn't come to an agreement in August after the companies worked together on two solo films and placed the wall crawler into the Avengers.
"I was obviously devastated, I was really upset," Holland said on Wednesday about how he felt when the news broke. At the time, Spider-Man was to be taken out of the Avengers and would only be able to appear in solo films made only by Sony.
The actor, who was left out of Avengers cast photos at Disney's D23 expo, was able to get a hold of Disney CEO Bob Iger. Holland says that he was drunk when he got called by Iger, but that he was able to help the situation which eventually led to Sony and Disney coming to terms on a new Spider-Man deal.
"It was really interesting for me to have these two studio heads like 'what do you think?'" Holland said.
"We had a really good plan for what we were going to do with Sony, the future of Spider-Man was still very bright, but it would have been a shame to take him out of the MCU you know. That's where he belongs ," he continued.
Holland will next be featured in animated film Spies in Disguise, which is set to arrive in theaters on Dec. 25.