The Walt Disney Co. said Monday that a unit will boost its ownership share of European children’s media company Jetix Europe NV. The company is known for its Asian-inspired Power Rangers and other animated TV programs.

Disney plans to pay the equivalent of $14 per share to take its share of Jetix from 74 percent to 96 percent and eventually control 100 percent through a compulsory takeover. The deal is expected to be complete by the end of the year. The total amount Burbank-based Disney will spend was not disclosed.

The acquisition will allow Disney to cut costs and improve its distribution in Europe, the company said. Disney acquired its original stake in Jetix when it bought Fox Family Worldwide from News Corp. in 2001.

Disney shares were up $1.79, or 8 percent, to $24.55 in morning trading on the New York Stock Exchange.