Mattel to Spin Off Genealogy Web Site

Mattel Inc., trying to turn ailing software subsidiary the Learning Co. into an asset, is spinning off a majority stake in a genealogy Web site that is among the subsidiary’s successful ventures. Genealogy.com also will receive $37.5 million in initial funding from Mattel and partners Hearst Corp., A&E; Television Networks, Thomas H. Lee Partners and Weston Presidio Capital. El Segundo-based Mattel will keep a minority stake of undisclosed size in the business. Last month, Mattel said the Learning Co., acquired this year for $3.5 billion, would have an unexpected loss of $105 million in the third quarter. Mattel shares rose 56 cents to close at $14.13 on the NYSE.