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MARK AUSTIN THOMAS: Time Warner’s Cartoon Network has signed a worldwide licensing deal with Mattel. The toymaker will produce action figures and other products tied to the network’s programming for children. Marketplace’s Lisa Napoli has more.

LISA NAPOLI: Mattel knows it needs to go beyond Barbie. Sagging sales of the buxom blonde are weighing down the bottom line at the world’s largest toymaker.

The company reported an 8 percent worldwide dip in Barbie sales last quarter.

Analyst Chris Byrne says the idea that Mattel will make toys that complement the Cartoon Network’s shows is a smart one.

CHRIS BYRNE: Mattel does very well with this kind of toy. Cartoon Network does very well with the 6 to 10 age range and it seems like a nice marriage.

Whether action figures and the like based on network faves like “Foster’s Home for Imaginary Friends” and “Camp Lazlo” can offset Barbie’s bust? Stay tuned.

In Los Angeles, I’m Lisa Napoli for Marketplace.