Saban Brands, a company founded by Haim Saban, who made a Fortune producing TV cartoons, including Power Rangers, Masked Rider, VR Troopers and Big Bad Beetleborgs, announced today (Friday) that it has signed a deal with the struggling CW Network to launch a five-hour, Saturday morning kids block. The network, owned by Time Warner and CBS, said that it plans to "rebrand the daypart" on Saturdays. In a statement, Elie Dekel, president of Saban Brands, said that it "is back in the kids' television business in a big way. ... The broadcasting block represents a unique opportunity for us to be the premier destination for action/adventure and comedy on Saturday mornings, while delivering what kids want online and on mobile 24/7/365." Two years ago, it announced that it had bought back the Power Rangers franchise from Disney for $43 million.