Budgeted at more than $100 million, according to sources, the film is scheduled to begin shooting in the summer, with "Shrek" director Andrew Adamson at the helm.
The film, the first installment of Walden's "Chronicles of Narnia" franchise based on the series of children's fantasy books by C.S. Lewis, will be released at Christmas 2005 by Walt Disney Pictures. Under the deal, which includes worldwide distribution rights, merchandising and all ancillary rights, Disney retains the option to release future films in the series, Walt Disney Studios chairman Dick Cook said.