"The Voyage of the Dawn Treader" may face a rocky voyage. The movie, the third in the "Narnia" franchise, has been passed on by The Walt Disney Co.

Disney is reporting that it will not partner on the third film it shares with Walden Media because of budgetary considerations and other logistics. In 2005, the two companies co-financed the hit, "The Chronicles of Narnia: The Lion, the Witch and the Wardrobe," based on the first volume in the C.S. Lewis children's book series.

"The Chronicles of Narnia: The Lion, the Witch and the Wardrobe" grossed 5 million at box offices worldwide. It also became a top-selling DVD for the year, and at the time Disney said there was potential for up to seven films.

The sequel, "Prince Caspian," was released in May 2008 and took in 0 million. The movie did better in DVD, becoming one of the top holiday sellers since its December 2 release.

"The Voyage of the Dawn Treader," had been scheduled for release in 2010.