Variety just announced that Twentieth Century Fox has taken over co-financing of the Chronicles of Narnia series a month after Disney decided to opt out of it. Fox had originally gone after the production rights to C. S. Lewis’ fantasy novels but had lost out to Walden. The Fox deal was not unexpected, since the two companies share a marketing and distribution firm, Fox Walden. As the article puts it, “The Century City studio [i.e., Fox] seems to be an ideal fit for the ‘Narnia’ books given that it’s been looking for a family-friendly, lit-based franchise for years–Fox 2000’s ‘Eragon’ filed to catch on with audiences and died after one installment.”
After The Lion, the Witch and the Wardrobe was a huge hit at $745 million internationally, Prince Caspian‘s take of $419 million was considered enough of a decline for Disney to drop the series, especially since Caspian cost about $215 million to produce. Even so, it was the number 10 grosser internationally last year. The third film, The Voyage of the Dawn Treader (referred to only as Dawn Treader in the article), is planned to cost a relatively modest $140 million.
Negotiations about scripting are still going on, but Fox and Walden hope to get the film into principal photography by the end of this summer and out for the holiday season at the end of 2010. The director will be Michael Apted, with Mark Johnson (an old friend and one of my interviewees for The Frodo Franchise) and Andrew Adamson (director of the first two films in the series) as producers. Apparently Australia is being considered as the location for the bulk of the filming.
After the post-LOTR failures of a number of big-budget fantasy franchises, it’s good to see that this one will survive, at least for a while.