Disney and Walden Media have decided to not move further with their Chronicles of Narnia series when they decided to not make the third installment, which would have been titled The Voyage of the Dawn Treader.

A Disney spokesperson spoke out on the cut, “We are no longer going forward with the movie due to budgetary considerations and other logistics.”

Up to this point, The Chronicles of Narnia series was intended to be a seven-part film series.

The reason for the series halt could be because of the last Narina film, Prince Caspian, seeing disappointing box-office numbers. Caspian, which was released in May, grossed $419 million worldwide, compared to the first film, The Lion, The Witch and the Wardrobe, which earned a total gross of $745 million back in 2005.

Another possible reason for the cut was the fact that the film was set to be made on a budget in the $100 million to $150 million range which is far less than the $200 million+ budget that Prince Caspian reportedly had.

Michael Apted was attached to direct The Voyage of the Dawn Treader, which was scheduled to start filming in early 2009.