News Corp. to Sell Stake in Children’s...

News Corp. to Sell Stake in Children’s Unit: The company said it will sell a $150-million stake in its Fox Kids Worldwide Inc. unit, which creates and distributes such children’s TV shows as “Mighty Morphin Power Rangers.” The initial public offering will help fund acquisitions and overseas expansion for Fox Kids, which depends on “Power Rangers” for 44% of its revenue, including sales of toys and other merchandise. Demand has soared for children’s programming from cable and broadcast companies as advertisers seek ways to reach youngsters, who influence spending decisions on more than $150 billion worth of products each year, Los Angeles-based Fox Kids said. “This IPO is partially in response to the new focus on children’s programming, which is one of the more profitable categories,” said Larry Gerbrandt, an analyst at Paul Kagan Associates. As soon as the IPO is completed, Fox Kids plans to acquire Saban Entertainment Inc., which has been producing “Power Rangers” in a partnership with Fox Kids. Saban Entertainment also owns a library of about 3,700 children’s programs.