We reported earlier that it looked almost inevitable that Walt Disney Pictures and Walden Media would do a sequel to The Chronicles of Narnia: The Lion, The Witch and The Wardrobe, and it appears our report wasn’t premature. Dick Cook and Cary Granat, the CEOs of both media giants made the official announcement that they have given a go for the second movie in the series.

“Prince Caspian,” the next installment of C.S. Lewis’ fable to be filmed will be helmed by director Andrew Adamson, whom Variety is reporting will be receiving a hefty eight-figure paycheck for his effort. This should not be a problem for Disney or Walden Media since the first Narnia film has already grossed over $638 million worldwide and still resides safely in the Top 10 most viewed movies since its theatrical release two months ago. It will star the original children actors from the first movie and takes place 400 years in Narnia’s future timeline.