"Dawn Treader" movie sunk

According to a CNBC.com report, Disney has decided it will not make the third installment in the Narnia series, "The Voyage of the Dawn Treader." The report says Disney made the decision based on "budget considerations and other logistics."

The second Narnia movie, "Prince Caspian," apparently didn't do as well as the studios hoped. The report says "Caspian" cost about $200 million to produce and it grossed $420 million globally. This is significantly smaller than the $745 million the first Narnia film, "The Lion, the Witch and the Wardrobe," made.

I'm no economist, but making $220 million isn't shabby. The movie made a decent profit, why not produce the final film featuring the Pevensie family? Besides, "Dawn Treader" is a story that is made for action, while "Caspian's" story didn't lend itself to as much action (without major changes to the storyline).

Personally, I think Disney has made a bad call here. I understand the economy isn't doing well, but why give up on the while project? I could understand putting the film off a year or two until things do better, but to give up entirely? I hope another studio will work with Walden Media to produce "Dawn Treader," and watch it do much better.

Disney, there's more out there than Pixar. While Pixar does make some great movies, they aren't the only game in town. Stick with the plan - produce the third film.

Also online: a second CNBC.com article.