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Source: The Hollywood Reporter

The Hollywood Reporter says that Walt Disney Pictures and Walden Media have confirmed that for budgetary and logistical reasons the Burbank-based studio is not exercising its option to co-produce and co-finance The Chronicles of Narnia: The Voyage of the Dawn Treader with Walden.

The third installment in the Narnia series was in preproduction; set for a spring shoot and a planned May 2010 release. The development also puts the participation of the talent attached in doubt, adds the trade. Michael Apted was on board to direct the script by Steven Knight. The key players of the second installment, "Prince Caspian" -- Ben Barnes, Georgie Henley, William Moseley and Anna Popplewell -- were set to return for the third film.

Walden has a strong relationship with the Lewis estate and will shop "Treader" in hopes of finding a new partner. The most likely candidate at this stage is Fox, which markets and distributes Walden fare under the Fox Walden banner.

Any partnership on a "Narnia" movie will require a substantial investment. "Caspian," which filmed in the Czech Republic, Mexico and New Zealand, cost $200 million. The first film, "The Lion, the Witch and the Wardrobe," was shot mostly in New Zealand for $180 million.

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Tags: chronicles, disney, narnia, of, walt

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Comment by Dr. Detfink on December 28, 2008 at 7:43am
You know at the rate, every movie is being re-cycled...um, hopefully someone like Peter Jackson's production company or the producers of Harry Potter will warm up to this film and completely re-do it from scratch. The first film wasn't bad at all. I think the main failure of the film was the battle scenes. It spent too much time having kids who just weren't comfortable with the blue screen trying to sell us peril in combat. The CGI was a little stiff as well.

I still think this franchise has a lot of potential but dare I say it needs to be treated with as much love as the Potter franchise has been treated.
Comment by Chris on December 28, 2008 at 6:35am
Ehh.....the movies suck anyways. If I were Disney I would've pulled out as well. I didn't see anything worth while in the movies. It was like watching just one big ripoff of stuff already seen.

I say give it to FOX. Then when it fails, maybe it'll be the final kick in the pants that gets them off their asses.
Comment by The Brewster on December 26, 2008 at 5:39pm
I love it when guys pull out in movies and...
*reads again*
Oh. Out OF movies? Well that sucks.
Comment by Glacier on December 26, 2008 at 2:49am
Meh.
Comment by stalksthemoon on December 25, 2008 at 11:29pm
Eh this doesn't matter that much to me. I haven't read the books, and I didn't really think either of the movies were that great.
Comment by Dr. Love on December 25, 2008 at 7:14pm
$419,649,086 worldwide
Comment by Dr. Love on December 25, 2008 at 7:11pm
last movie did GREAT worldwide.. this is kinda crazy for them to pull out ..
Comment by Stephanie on December 25, 2008 at 12:56pm
That last movie didn't do that well, so they are thinking of giving it to Fox, they should just killed themeselves right now.
Comment by wokeupsleepy on December 25, 2008 at 10:39am
Eh, don't care.
Comment by Nite Watçhman on December 25, 2008 at 8:56am
That Lion owns, lolz, there's supposed to be maybe 2 more movies after this one to, hahaha.

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