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Fox and Walden Partner for ‘Voyage of the Dawn Treader’

princecaspiansmall-506When Walt Disney decided not to exercise its option to co-produce and co-finance the third film in the Chronicles of Narnia franchise, most assumed that a likely new partner for Walden Media would be Fox, who already distributes Walden properties under the Fox Walden banner.  And that’s exactly what has happened.

Variety is reporting that Fox and Walden will split production and P&A costs for The Chronicles of Narnia: Voyage of the Dawn Treader, which it reports is projected to cost $140 million, a good deal below the $215 million budget of last year’s ‘Prince Caspian’ and 2005’s The Lion, the Witch and the Wardrobe ($180 million).

The hope is to shoot the film at the end of summer and release it holiday 2010.