Over a year after gaining the screen rights to theFantastic Four, Marvel Studios has provided a significant update on the superhero team’s introduction to the MCU. Marvel Studios president Kevin Feige announced the company is developing aFantastic Fourfilm that will be helmed bySpider-Man: Homecomingdirector Jon Watts.

Marvel Studios procured the screen rights to theFantastic Fourfrom Foxafter Disney’s acquisition of 21 Century Fox’s entertainment assets in 2019. During Marvel Studios' presentation at San Diego Comic-Con that year, Feige confirmed the company wasplanning to introduce the Fantastic Four to the MCU, but no further information regarding how or in what form was divulged at the time.

RELATED:Fantastic Four Director Reveals Big Regret About Sue Storm Casting

During Disney’s Investor Day presentation this week, Feige finally announced the Fantastic Four will be introduced to the Marvel Cinematic Universe in a featured film. “Finally, I’m happy to announce a film about one of the truly iconic Marvel families. In fact, Marvel’s First Family: Fantastic Four,” Feige declared. “We’re working on a feature now, and it will be directed by the director of ourrecentSpider-Manfilms, Jon Watts.” Fans were also given a glimpse at Marvel Studios’Fantastic Fourlogo in a brief video clip included with Feige’s announcement.

After joining the MCU family as the director ofHomecoming, Watts returned to helm the sequelFar From Homeand is currently hard at work on the third installment of Tom Holland’sSpider-Manfilm series. During the Investor Day presentation, Feige confirmed the untitled thirdSpider-Manfilm will be connected to the events ofDoctor Strange Strange in the Multiverseand the Disney+ seriesWandaVision. Joining Holland in the nextSpider-Manfilm will be Benedict Cumberbatch as Stephen Strange, which may explain the inclusion of multiple characters from separateSpider-Manfranchises, includingAlfred Molina as Doctor Octopus.

Fans may have a better understanding of what Marvel Studios has planned for the multiverse whenWandaVisionpremieresin January 2021. The series, which seemingly revolves around Elizabeth Olsen’s Scarlet Witch and Paul Bettany’s The Vision living in an alternate world created by outside forces, officially marks the beginning of the MCU’s Phase 4 era.

Disney’s acquisition of 20th Century Fox raised concerns regarding the company’s increasing footprint in the entertainment industry. However, the prospect of seeing the Fantastic Four return the silver screen under the Marvel Studios banner was exciting to fans, especially considering 20th Century Fox’sprevious efforts to adapt the charactersfor a feature film were maligned by moviegoers.

Fantastic Fouris in development.

MORE:Spider-Man: 10 Peter Parker Mannerisms From The Comics Tom Holland Nails