Disney announced Tuesday that for "budgetary and logistical reasons," they will not finance and co-produce the third Narnia movie entitled Chronicles of Narnia: The Voyage of the Dawn Treader, according to the Hollywood Reporter. The Narnia movies are based on the book series by C.S. Lewis.
The newest installment was supposed to have included the acting talents of Ben Barnes (Prince Caspian), Skandar Keynes (Edmund), and Georgie Henley (Lucy) from the previous movies, and would have been directed by Michael Apted. In this movie, Lucy, Edmund, and their cousin Eustace come back to Narnia and join up with Prince Caspian, who is looking for lost lords to give to Aslan the lion.
In the past, Disney partnered up with Walden Media to film Chronicles of Narnia: The Lion, The Witch, and the Wardrobe and Chronicles of Narnia: Prince Caspian. Walden Media will continue the franchise without Disney and were disappointed with Disney's decision.
There are talks that FOX will partner with Walden Media on this production. FOX and Walden Media have worked together in the past and it would not be surprising for them to join together again.
Disney likely backed out because Chronicles of Narnia: The Lion, The Witch, and the Wardrobe (2005) brought in $745 million dollars, while the newest installment, Prince Caspian (May 2008) only brought in $419 million. The huge drop in profit was likely enough to give Disney second thoughts.
The movie was set to be released in May, 2010, but will likely be delayed unless financing can be secured quickly. Unfortunately, this could pose a problem with getting participation from director Michael Apted and stars Ben Barnes, William Moseley (Peter), and Anna Popplewell (Susan).
Disney's "budgetary considerations and other logistics" will not stop this popular family franchise. With or without Disney, Chronicles of Narnia: The Voyage of the Dawn Treader will continue in pre-production.
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