Studio News: "Chronicles of Narnia"

Looks like Disney has decided to abandon the "Chronicles of Narnia" franchise. But have no fear! 20th Century Fox revealed yesterday that it plans to partner with Walden Media to finance the next film -- "The Voyage of the Dawn Treader".

With a production budget of $140 million (compared to last year's $215 million for "Prince Caspian"), the film is expected to be more family film-friendly. The film is also aiming to restore the magical aspects of the first film, "The Lion, the Witch, and the Wardrobe", which were widespread believed to be absent from "Prince Caspian".

The film will first be released in the UK on May 7, 2010.