Narnia 3 is back!

After being unceremoniously left at the altar by Disney last month, THE CHRONICLES OF NARNIA: THE VOYAGE OF THE DAWN TREADER has found a new home. Fox has swooped in to save the day, going in halfsies on production costs for the film with Walden. Fox and Walden already have an existing relationship and Fox was given first right of refusal on the project after Disney decided to let it go for financial reasons. Fox wasn’t devoid of those concerns either and has trimmed the budget to approximately $140 million (down from $215 million for PRINCE CASPIAN). Fox is also hoping that DAWN TREADER, which is considered to be more of a family-friendly film, will return the kind of rewards that the original NARNIA film did in 2005 (with $745 million worldwide). The two sides are currently finalizing budgetary and script concerns and if all goes according to play, they expect to begin shooting this summer for a holiday 2010 release. Looks like a pretty smart move by Fox (despite what some of you might inherently think of their business practices) and one that could result in Disney kicking themselves.