"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 instalment, "Prince Caspian" -- Ben Barnes (represented by Creative Artists Management), Georgie Henley (represented by Hamilton Hodell), William Moseley (Independent Talent Group) and Anna Popplewell (Sascha Leslie Management Allsorts)-- were to return for the third film. "Son of Rambow" star Will Poulter (Independent Talent Group) was also lined up to play Eustace Scrubb.
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.
Further challenging "Treader" may be a waning of the pricey children's fantasy genre. When the "Harry Potter" series topped the book charts and then filled movie theaters, studios began snapping up fantasy manuscripts as quickly as they could. When "The Lord of the Rings" showed it was possible for adults to enjoy the fare as well -- and produced the boxoffice results to prove it -- Hollywood's fascination with the genre intensified.
But no other fantasy adventure films have shown that kind of boxoffice punch. Earlier this year, Warners and New Line hoped they were launching a franchise with "The Golden Compass," but the adaptation of the Philip Pullman trilogy tanked domestically.
The film grossed just $70 million domestically and the co-production partners declined to go forward with a second instalment despite the fact the film did take in more than $300 million overseas.