Walt Disney Studios and Walden Media announced yesterday that they will be financing a film together, "The Chronicles of Narnia: The Lion, the Witch and the Wardrobe" based on the second book of the 7 book series by C.S. Lewis.

The film is to be directed by Andrew Adamson who also directed the Shrek films. It should be ready for release for Christmas 2005. Further film adaptations of the book series could follow.

"`The Chronicles of Narnia' were an important part of my childhood just as they are to millions of fans around the world," Adamson said. "I hope to bring to the screen a movie that is as real to the audience as Narnia was to me as a child."