Let's all watch Lazy Sunday and then have a moment of silence for the Narnia franchise.
Disney has opted to terminate its relationship with Walden Media; a partnership which produced both The Lion, The Witch And The Wardrobe as well as Prince Caspian.
Disney cited "budgetary considerations and other logistics" which is code for 'they are afraid it won't make enough money'. The first film grossed $750 million worldwide and Caspian grossed a lesser, but still impressive $419 million.
Production for the 3rd Narnia film, The Voyage of the Dawn Treader, had been scheduled to begin in early 2009.
A spokesman from Walden has stated that they still remain committed to the franchise; they merely will have to find a new partner.
Source: TV Guide