The third entry in the series, based on the classic books by C.S. Lewis, was in preproduction and set for a spring shoot. A May 2010 release was planned as well.

This latest development puts the participation of the talent attached in doubt. Michael Apted was on board to direct a script by Steven Knight. The key players of the second installment, “Prince Caspian” — Ben Barnes, Georgie Henley, William Moseley and Anna Popplewell — were to return for the third film.

One of the reasons Disney might have pulled besides the struggling economy is the fact that “Prince Caspian” paled in comparism to what “The Lion, the Witch and the Wardrobe pulled in.

“Caspian” was shot in the Czech Republic, Mexico and New Zealand at a cost $200 million. The film grossed $141 million in North America and another $278 million internationally.

“Lion” was shot in New Zealand for $180 million and grossed $292 million domestically and another $453 million internationally in 2005.

Walden Media who has a strong relationship with the Lewis estate will now shop “Treader” in hopes of finding a new partner. The most likely candidate at this stage is Fox, which markets and distributes Walden fare under the Fox Walden banner.

Personally I feel Disney is making a mistake to let the series go. I was hoping they’d produce films from all seven books in the series which in the long run would most likely bring about huge profits.

Now they leave the next films for someone else to pick despite the fact that they have their name on the first two.

Related: Book your dream Disney vacation at Expedia.com!

Besides the full-feature length movie itself, the collector’s edition Prince Caspian DVD will offer viewers several special bonuses.

• Special audio commentary by director and actors

• Behind-the-scenes interview with cast and crew

• A tour of the film’s locations and sets

• An inside view of the technology and production behind the movie

• Bloopers, deleted scenes and more

Get the Blue-Ray version and enjoy these additional features not available on the standard DVD:

• An interactive Narnia game

• Downloadable features

• “Circle-vision” interactive, which provides viewers with a 360-degree look behind the scenes of the castle raid sequence

“The Chronicles of Narnia: Prince Caspian” has a suggested retail price of $29.99 in the U.S. but is available at Amazon.com for half-price. The Collector’s Edition, meanwhile, is $39.99 (43% off on Amazon), and the Blu-ray disc is priced at $35.99 (31% off on Amazon).

While I myself would love to add this to my collection, I think I’m going to wait until all seven installments of The Chronicles of Narnia are completed and available in some sort of box set, just as I did with The Lord of the Rings trilogy.

Still, if you can;t wait till Disney finishes production of several more films, the Amazon pricing is looking pretty good right now.

Related: Book your dream Disney vacation at Expedia.com!