Disney pulls out of next 'Narnia' installment

The studio has decided not to co-finance 'The Voyage of the Dawn Treader' for budgetary reasons, a spokeswoman says.
By Claudia Eller

As Hollywood grapples with the difficult economics of its business, Walt Disney Studios has canceled plans to partner on the next film in the "Chronicles of Narnia" series, "The Voyage of the Dawn Treader."

A Disney spokeswoman confirmed Wednesday that the Burbank studio decided not to exercise its option to co- finance the third movie in the franchise based on C.S. Lewis' classic children's books because of "budgetary considerations."

Though the budget of the movie came in significantly below the $200-million cost of "Prince Caspian," the second film in the "Narnia" series, it could still escalate during production, and that made Disney wary, according to a person close to the movie. Disney was partner with Walden Media, which owns the rights to the books, on the first two "Narnia" films.

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Disney's decision not to proceed with "Dawn Treader" shows how it is being more selective in the number of pictures it releases. Studios are scrutinizing costs more carefully and in many instances passing on expensive pictures that until recently might have been given an automatic green light.

Disney was also uneasy that the budget of "Dawn Treader" was subject to other uncontrollable factors, such as uncertainty about the tax breaks and rebates, a weak U.S. dollar and the high cost of visual effects.

One person close to the matter said there were also "creative" differences between Disney and Walden, and that the two disagreed on when to release the film in 2010.

Walden said Wednesday that it hoped to find a new financial partner and proceed with plans to shoot the film in the first quarter of next year with director Michael Apted.

"We're disappointed that Disney has decided not to go forward," said David Weil, chief executive of Walden's parent company, Anschutz Film Group. "But we regard 'Dawn Treader' as an extremely valuable property and remain committed to the franchise."

Getting a new partner to take on half the risk could prove a challenge for Walden given that "Prince Caspian" fell below expectations when it was released in May. The film generated $419 million in worldwide ticket sales, far less than the first "Narnia" movie, "The Lion, the Witch and the Wardrobe," which grossed $745 million in 2005.

As in the case of many films, "Prince Caspian" did not earn its money back from ticket sales. But Disney and Walden hope it will become profitable as the result of DVD sales.

On Wednesday morning, the Hollywood Reporter website was first to report that Disney was pulling out of "Dawn Treader."

claudia.eller@latimes.com
http://www.latimes.com/entertainment/ne ... 9272.story

 

I think that's a good choice ... Speaking as a lover of the novels, I don't think the subsequent books would have the same appeal for a mass audience. The magic of the first book is just not the same in the others - and wouldn't translate well to movies. They are more of spiritual quests than the epic battles Disney created on-screen. ;

Especially after Prince Caspian, the four children are no longer present ... there goes the audience of pre-teen girls who were coming just to see the eldest brother! ; ; I don't think Caspian as a character could draw more people in for a #3.

 

I'm not surprised I didn't think the first movie was as good as it could have been and the acting in the second was aweful. Better casting would have made all the difference.

 

Fox to take over next Narina film from Disney

Fox agrees to step in on next "Narnia" movie
07:22 PM PT, Jan 28 2009

Twentieth Century Fox has agreed to co-finance the third movie in the “Chronicles of Narnia” series, pending approval of the final script and shooting budget. If all goes as planned, Fox and Walden Media, which controls the movie rights to C.S. Lewis’ classic children's books, hope to be begin production on "The Voyage of the Dawn Treader" by late summer so it will be ready for holiday 2010 release.

First, however, Fox and Walden have to hire a screenwriter to do another pass on the script that was last rewritten by Richard LaGravenese, whose credits include "Freedom Writers" and "The Horse Whisperer." The movie companies are looking to make the film for about $140 million. Michael Apted, who made "Amazing Grace" and the 1999 Bond flick "The World Is Not Enough," is on board to direct.

Fox is taking a financial gamble that Disney was unwilling to wage despite helping bankroll the first two films in the "Narnia" family franchise. Walden, owned by entrepreneur Phil Anschutz, was forced to seek a new financial partner on “Dawn Treader” after Disney balked at the cost and opted out.

Fox was the most likely partner because the studio already markets and distributes Walden movies under its Fox Walden label.

Over the last few weeks, Walden chief David Weil and “Narnia” producer Mark Johnson have held a series of meetings with top Fox executives, including movie chiefs Tom Rothman and Jim Gianopulos, to discuss script revisions and the movie's cost.

While the targeted budget of “Dawn Treader” is much lower than that of the last Narnia movie, “Prince Caspian,” which cost $225 million to produce, it's still a big gamble. Released by Disney last year, the sequel was much less popular than the first "Narnia" movie, “The Lion, the Witch and the Wardrobe.” The sequel grossed $419 million worldwide compared with its 2005 predecessor, which generated $745 million in ticket sales.

Disney and Walden hope that DVD sales of "Prince Caspian" will help pull the movie out of the red.

-- Claudia Eller

Photo: "The Chronicles of Narnia: Prince Caspian" is courtesy of Walt Disney Studios