Three years have passed since 20th Century Fox released The Chronicles of Narnia: The Voyage of the Dawn Treader to a less-than-expected box office take and mixed reviews. That film marked Fox's effort to resurrect the franchise after Disney - which released the first two films - passed on the opportunity to develop a third adaptation of the novels by C.S. Lewis. Collectively, the three Narnia films have earned more than $1.5 billion worldwide, but the future of the franchise has remained hanging in the balance since Dawn Treader failed to live up to expectations (it's worth mentioning that the film still managed to bring in over $400 million worldwide).

Last we heard, The Magician's Nephew - the first film in the series chronologically - was in line to become the next Narnia adaptation. However, Walden has since undergone restructuring and will instead focus on third-party productions, essentially meaning that the company is out of the Narnia business. It appeared as if fans' hopes for another film were fading fast, but just like Aslan famously returned to the world of the living in The Lion, the Witch and the Wardrobe, the Narnia film series will indeed live on.

The C.S. Lewis Company has announced a partnership with The Mark Gordon Company to develop and produce a fourth film in the series. Rather than going the prequel route, the companies are instead bringing The Silver Chair to the big screen. Originally published in 1953, the novel is set after the events of Dawn Treader and features the return of several of its key characters, though there's no indication just yet if any of the cast or crew of the previous film will return. Gordon's film production credits include Source Code and 2012.

The Magician's Nephew Chronicles of Narnia Aslan

This news certainly comes as good news to fans of the acclaimed seven-book Chronicles of Narnia series and means that there's still a possibility that the entire saga may make its way to the big screen someday. Still, the announcement curiously makes no mention of Fox producing The Silver Chair, which may indicate that the studio has yet to commit to another Narnia film. The partnership between The C.S. Lewis Company and Gordon's is a critical first step in backing the new film and starting it on its way to theaters, but until cameras start rolling, there's still a chance that The Silver Chair may hit another roadblock, as such production difficulties have become especially commonplace for this franchise.

Are you looking forward to another visit to Narnia, or would you prefer that the powers that be give the film series a break? Sound off in the comments section below.

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Stay tuned to Screen Rant for all the latest on The Chronicles of Narnia: The Silver Chair as this story develops.

Source: The C.S. Lewis Company