According to Variety, Walden Media's Chronicles of Narnia series will continue with a new partner, 20th Century Fox.
When Walt Disney Pictures left the project, Fox got the first chance to make The Chronicles of Narnia: The Voyage of The Dawn Treader due to the shared Fox Walden marketing and distribution label. The label made the promise to make the project. The plan is for a 2010 release via the Fox Walden label.
Currently, there is a no budget and work is still being done on the script but the plan is for a 2010 release around the holidays. It will come out via the Fox Walden banner.
Fox and Walden plan to go halves on production and P&A costs for The Chronicles of Narnia: The Voyage of The Dawn Treader. The budget is currently in the $140 million budget range.
The hope is for the production to begin in the summer but the only way this can happen is if Walden Media chooses a writer. Richard LaGravanese did the most recent draft but he might not be available due to other projects. Once this gets worked out, the plan is for the shoot to happen in Australia.
Apparently, Ben Barnes, Skandar Keynes and Georgie Henley are coming back as Caspian, Edmund and Lucy. Joining the cast will be Will Poulter (Son of Rambow), in the role of Eustace Clarence Scrubb.
Michael Apted will be directing The Chronicles of Narnia: The Voyage of The Dawn Treader.