LOS ANGELES, Mar 23 (Reuters) The latest reboot of the 1990s "Power Rangers" children's television series held its world premiere in Los Angeles. Directed by Dean Israelite, the film tells the backstories of the five teenage characters - a misfit, a loner, a school bully, an intellectual and a drop-out - and their transformation into action heroes. "It's like an instruction manual of how to become a Power Ranger because you go through the kids' journey...these inadequate insecure little kids, and how they become superheroes," said actor Ludi Lin, who plays the Black Ranger. As in the television series, the Rangers' mission is to stop arch villain Rita Repulsa, played in the rebooted film version by American actor Elizabeth Banks. "It's hard work. I will say that but it was really fun to yell at everyone," Banks said. "It's fun to feel like I was invincible." Earlier in the day, Power Rangers creator and producer Haim Saban received a star on the Hollywood Walk of Fame for his achievements in television. The TV series that debuted as "Mighty Morphin Power Rangers" in 1993 is now in its 24th season, making it one of the longest running children's action series in television history. It also spawned three theatrical films, with the latest, "Saban's Power Rangers", set to open in US theaters tomorrow. REUTERS SV NS1202