In a very surprising move, Disney has dropped further involvement in the Narnia Franchise.�

“The Chronicles of Narnia: The Voyage of the Dawn Treader” will have to sail without Disney.

While declining to elaborate, Disney and Walden Media confirmed Tuesday that for budgetary and logistical reasons the Burbank-based studio is not exercising its option to co-produce and co-finance the next “Narnia” movie with Walden.

The third entry in the series, based on the classic books by C.S. Lewis, was in preproduction and set for a spring shoot for a planned May 2010 release. The development puts the participation of the talent attached in doubt. Michael Apted was on board to direct a script by Steven Knight. The key players of the second installment, “Prince Caspian” — Ben Barnes, Georgie Henley, William Moseley and Anna Popplewell — were 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.

What an odd choice for them to make. I sure hope the rest of the movies get made, the books are great. Is this just the beginning of major cutbacks from hollywood next year? Time will tell.

Souce: The Hollywood Reporter

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