GERALDO’S BACK ON THE LOOSE

Just when you thought it was safe to tune in KTLA Channel 5, Geraldo Rivera’s readying his next syndicated news special (you have until April 20 to prepare yourself). It’s called “Innocence Lost: The Erosion of American Childhood,” and it’s already cleared in a whopping 138 markets.

Look for Geraldo to talk to troubled kids in Omaha’s Boys Town and at a high school plagued by teen suicides in segments taped last week. But the hot footage will probably be the live portion he hosts in New York as he “talks to kids selling their bodies on Times Square,” as a spokeswoman for Tribune Entertainment characterized it.

She old us: “The live parts aren’t going to be as risky as ‘Capone’s Vaults’ and ‘American Vice,’ ” which had him joining cops on drug raids that netted some innocent parties on camera--lawsuits are pending. “It will look at the dingy side (of runaways and related troubles) but also the positive. It will be more calm in its pace and less controversial and more balanced.

“Not that the others weren’t balanced,” she added.

No, Geraldo won’t disguise himself as a runaway and try to sell his body on Times Square. But the show will build to another dramatic conclusion: “Every Geraldo special has a cliffhanger--this time he’ll attempt at the end to reunite some families.”