'The Chronicles of Narnia: The Silver Chair' will be adapted for the big screen.

The fourth book in the children's fantasy series written by C.S. Lewis will finally go into production - more than three years after the release of 'The Chronicles of Narnia: The Voyage of the Dawn Treader'.

The C.S. Lewis Company has struck a deal with Hollywood producer Mark Gordon to produce the fourth film in the franchise, which appeared to have hit a roadblock following disappointing box office receipts for the third movie.

Gordon said in a statement: ''Like many readers, both young and old, I am a huge fan of C.S. Lewis's beautiful and allegorical world of Narnia. These fantasy stories inspire real-world passion among millions of devoted fans around the world. As we prepare to bring the next book to life, we are humbled and excited to contribute to the outstanding legacy of Narnia.''

The blockbuster 'Narnia' franchise launched in 2005 with the Disney-produced 'The Lion, the Witch and the Wardrobe', which proved a huge success at the box office, grossing $291 million in the United States and $745 million worldwide.

However, the film's follow-up, 2008's 'Prince Caspian', failed to match its predecessor's success, with a gross of $141 million in the US despite being made on a $225 million budget. The final worldwide gross was $419 million.

Disney dropped the franchise - which was co-produced by Walden Media - after 'Caspian' and Walden Media teamed up with 20th Century Fox for 2010's 'The Voyage of the Dawn Treader'. That movie took in just $104 million in the US on a $155 million budget, but it nearly matched the second film's worldwide gross with $415 million.

The franchise stars Liam Neeson, Tilda Swinton, Ben Barnes, William Moseley and Anna Popplewell.