MGA Entertainment Inc., the maker of trendy Bratz dolls and a thorn in the side of Mattel Inc.’s Barbie empire, could go public as early as this year, according to a Bloomberg News report.

Isaac Larian, the company’s maverick chief executive, said that Van Nuys-based MGA is in talks with JPMorgan Chase & Co. and Morgan Stanley in anticipation of an initial public offering.

Larian said that going public would enable MGA to expand the popular Bratz line of dolls. The line, which was introduced in 2001, has already topped Barbie in Britain, and Larian is aiming to do the same domestically.

“To do that fast, we would need to go public,” Larian told Bloomberg. “It could happen this year.”

Worldwide sales of Bratz products, which also include Rescue Pets and Alien Racers, were estimated at just over $2 billion in 2005. The Bratz line experienced a double-digit sales increase in the last year.

Meanwhile, Mattel continues to bleed Barbie sales: they dropped 11 percent in the fourth quarter. The El Segundo-based company is now working to revitalize Barbie and is introducing a revamped Ken doll at the upcoming American International Toy Fair in New York.