Disney Dumps Voyage of the Dawn Treader

Feeling the economic squeeze, Disney announced Tuesday that it will not exercise its option to co-produce and co-finance The Chronicles of Narnia: The Voyage of the Dawn Treader with Walden Media. The film was reportedly already in preproduction with a May 2010 release planned. The previous two Narnia film were costly to produce, each of them budgeted at around $200 million. But while the first film, The Lion, the Witch, and the Wardrobe, took in $745 million worldwide, the second film, Prince Caspian, earned just $419 million. Walden said that it would seek another production partner. (IMDB)