The third installment of the Chronicles of Narnia franchise, "Voyage of the Dawn Treader", has finally found some financial backing.

20th Century Fox has stepped up and will co-finance the project, barring any snags with approval of script and shooting budget. Fox, along with Walden Media, controls the rights to the C.S. Lewis books.

The film is expected to cost about $225 million. While that is much lower than previous films, it is still a substantial amount of money that Walt Disney Pictures was unwilling to front, based on less than expected earning on the previous installments.

"Voyage of the Dawn Treader" is scheduled to have a holiday 2010 release date.