Disney has announced that they have dropped the third Chronicles of Narnia film after deciding that co-producing and distributing the film, entitled “The Voyage of the Dawn Treader,” would prove too costly given the economic downturn.
The decision will leave the production company Walden Media on its own looking for a new partner to release the third film.
The new movie would have had a budget of over $200 million USD but its box office return was uncertain given the current climate and the diminished returns of the second movie in the franchise. The first film, “The Lion, the Witch and the Wardrobe,” grossed $745 million USD worldwide but its sequel, “Prince Caspian” only made $418 million worldwide.
For the time being, it is being reported that 20th Century Fox is a possibility to back the new movie, however they will require a tighter budget.
For a good opinion piece on why Disney is making a terrible mistake, read here: A ‘Chronicles of Narnia’ voyage Disney should take
Result for: franchise
Activision has announced that it will be releasing the blockbuster hit game “Guitar Hero” on the world’s most popular handheld, the Nintendo DS.
The new game, “Guitar Hero: On Tour” will include a plug-in accessory (pictured later) and a mock guitar-pick that will allow gamers to strum on the bottom screen.
There was no price point set yet, but Activision says the game will hit retailers in June or July. The average Nintendo DS game costs $30 USD but gamers can expect GH: OT to cost around $50 because of the peripheral.
The blockbuster franchise has made over $1 billion USD since its launch in 2005 and the DS is the best selling gaming hardware for the last few years. The combo could be lethal.
Picture courtesy of IGN:
Result for: franchise
Take-Two Interactive Software has said in a press release today that the blockbuster multi-platform game Grand Theft Auto IV had surpassed all-time records for one day and weekly sales, even surpassing analyst estimates.
Released last Tuesday, April 29th, the game was a critical hit, receiving close to perfect reviews from most notable gaming outlets. It also seems that Take-Two has a monetary hit on their hands. The company says worldwide sales for the first week was about 6 million units with a retail value of $530 million USD. It shattered launch day records as well, selling 3.6 million units with a retail value of $310 million USD globally.
“We knew Grand Theft Auto IV would break new ground in terms of the player’s experience, with its compelling story line, extraordinary gameplay and action that ranges over a broad urban canvas. Now, it has broken sales and rating records as well. Grand Theft Auto IV’s first week performance represents the largest launch in the history of interactive entertainment, and we believe these retail sales levels surpass any movie or music launch to date. We congratulate the entire Rockstar team on creating a must-have experience that takes the legendary Grand Theft Auto franchise to a new level,” said Strauss Zelnick, Chairman of Take-Two.
“Rockstar’s goal is to make each new title in the Grand Theft Auto franchise even better than those that preceded it, and Grand Theft Auto IV is a smashing success on that score. Grand Theft Auto IV makes full use of the power of next generation technology, and offers players an experience unique in the interactive entertainment medium. This game sets a new standard in the industry, with critics hailing it as both an artistic and technological masterpiece,” added Ben Feder, Take-Two’s Chief Executive Officer.
