COMPANY TOWN ANNEX

Time Warner Reaches Out to Kids: The conglomerate will seek to further capitalize on the growing children’s market by forming a new division called TW Kids that will market music, film soundtracks and audio books and eventually include a book publishing operation. The division is being formed through the company’s Time Warner AudioBooks venture and will be headed by that division’s chief executive, Lori Weintraub. TW Kids is expected to work closely with other Time Warner units, such as Warner Bros., Warner Books and DC Comics, as well as such licensers as Lucasfilm and Saban Entertainment. Audio products based on Saban’s popular “Mighty Morphin Power Rangers” program are expected to be offered soon.