Viacom-owned kids channel Nickelodeon, which has lost 28% of its young audience over the past year, is banking on a new version of "Teenage Mutant Ninja Turtles" to help revive its ratings, reports the Los Angeles Times.

Last year, rival Disney Channel overtook Nickelodeon in children 2 to 11 years old, ending a 16-year winning streak for Nickelodeon.

"Mutant Turtles" represents millions of dollars in development funding for the network, with Viacom buying the rights to the show three years ago for $60 million. The network has given the program a computer-generated look. The original program featured a grown-up TV reporter; in the new show, she’s a 16-year old girl, the story notes.

The network has ordered 26 episodes of the show.