Disney's ‘Chronicles of Narnia’ Opens as Top Film

(Bloomberg) – Walt Disney Co.'s “The Chronicles of Narnia: The Lion, the Witch and the Wardrobe” opened as the No. 1 film in US and Canadian theaters with an estimated $67.1 million in ticket sales, the second-best December debut ever. “Narnia” may give Disney and partner Walden Media, owned by billionaire Philip Anschutz, a chance to create a movie franchise similar to Time Warner's Harry Potter and Lord of the Rings. The success of “Narnia” and “Chicken Little” may help Disney turn around its studio unit, which reported a $313 million loss in the company's fourth quarter. Its success “indicates there'll be a green light for the next one imminently,” said Brandon Gray, president of Box Office Mojo, an online movie publication and box-office tracking service. “It clearly struck a chord with audiences,” he said. “That's a key factor in ongoing success for the franchise.” The best December opener was “The Lord of the Rings: The Return of the King” in 2003, with $72.6 million. “Narnia” will face competition next week from General Electric Co.'s Universal Pictures “King Kong,” directed by Peter Jackson.