Andy Heyward and Amy Moynihan have launched new Los Angeles-based A Squared Entertainment LLC, a new children’s media company.

The company has teamed with AOL to unveil a new slate of “purpose-drivne entertainment brands for children.” Personalities such as Martha Stewart, Gisele Bundchen, Warren Buffett and the late Carl Sagan will feature in some of the new content aimed to teach children about finance, creativity, science and the environment.

The AOL deal will involve A Squared collaborating on a seaon’s worth of 3-5 minute webisodes involving each personality such as Buffett in Secret Millionaire’s Club; Bundchen in GiGi & The Green Team; Stewart with Little Martha and Kosmos inspired by Carl Sagan. The webisodes will premiere on AOL and then be promoted via social networking.

AOL will work with MGX Lab to produce a unique interactive world for each property, with games and activities to support the webisodes.

“A Squared was created to introduce great entertainment for kids that also serves to teach them about the world around them in fun ways,” said Heyward. “We are privileged to have some of the premiere icons of our time to inspire modern content for children. Each an expert in their respective fields, these celebrities have committed to bringing content with a purpose to kids. Together with AOL, we are reinventing the way multi-media brands are launched to connect with kids throughout their multi-tasking daily lives.”

Financial guru Buffett added: “What better time to help educate our kids about financial responsibility. Andy Heyward and I have a longstanding relationship, and I am excited to introduce a series that is as fun as it is informative.”

Heyward is an Emmy Award-winning producer who founded DIC Entertainment (Care Bears, Inspector Gadget, Sabrina The Teenage Witch, Alvin And The Chipmunks). Moynihan is a marketing veteran who has worked with brands including McDonald’s, Disney Cruise Line, Hasbro.

A Squared plans to work across all formats in content for children.