MOUSE EXECS: WE’RE GOING KID-FRIENDLY

Disney will revive its slumping ABC network with kid-friendly shows, the company said yesterday in reporting its weak fiscal fourth-quarter earnings.

ABC ratings have fallen dramatically this season, forcing the Disney-owned network to offer free commercial slots to advertisers, thus hurting the company’s ailing bottom line.

But Disney President and COO Bob Iger said yesterday the “disappointing performance” will start to turn around mid-season when the network gets back to its roots.

“The heart of our success has always been family-oriented comedy,” Iger said on a conference call with analysts. “We feel we need to return to that audience and advertiser-friendly format.”

Indeed, ABC had tremendous success with its “TGIF” programming on Friday nights but got rid of that to go with more adult programming. But now shows such as “Thieves” and “Once and Again” aren’t performing as ABC had planned.

Disney reported a 78 percent drop in fiscal fourth-quarter net profits amid continuing weakness in its television unit and slumping park attendance following the Sept. 11 attacks.

Disney reported a net profit of $53 million, or 3 cents a share, for the quarter ended Sept. 30, down from $240 million, or 11 cents a share, in the year-earlier period. Revenues fell to $5.8 billion from $6.1 billion.