as3 variable type definition issue

programming flash
1

So I am trying to add a variable from my library to the stage. My variable is a chunk of text saved as a movie clip titled KatText. The issue is I can add it straight onto the stage via this code:

this.addChild(KatText ());

However when I try to add it as a variable so I can position the text I get the error

1067: Implicit coercion of a value of type Class to an unrelated type flash.display: DisplayObject.
This is the code I am trying to use to define the varible from the library:

var  katText:Object =  new KatText();
this.addChild(KatText);

Here is all of the code just in case its needed:

import flash.display.BlendMode;
import flash.events.MouseEvent;
import flash.utils.Timer;

//Tweener files
import caurina.transitions.*;
import caurina.transitions.properties.ColorShortcuts;
ColorShortcuts.init();//Required Param for Color Transform


/////////////////////////
/////////////////////////
/////////////////////////
/////////////////////////

//Positions
const NUM_PORTBUTTONS:uint = 11; //how many buttons will exist
const NUM_PORTBUTTONS2:uint = 20;

const LEFT_MARGIN:uint = 100;
const SPACER:uint = 10;
const TOP_MARGIN:uint = 475;

//Colors
const WHITE:Object = 0xFFFFFF;

initPos();

var codyLg:Loader = new Loader();
codyLg.load(new URLRequest("codyLg.jpg"));

var katLg:Loader = new Loader();
katLg.load(new URLRequest("katrinaLg2.jpg"));

/*var kevLg:Loader = new Loader();
kevLg.load(new URLRequest("kevLg.jpg"));
*/
///////functions for gallery buttons//////

        function initPos():void {
            trace("initialized NavBar");
            
            //on click (working)
            katrinaThumb.addEventListener(MouseEvent.ROLL_OVER, katrina);
            codyThumb.addEventListener(MouseEvent.ROLL_OVER, cody);
            //kevinThumb.addEventListener(MouseEvent.ROLL_OVER, kevin);
            //vincentThumb.addEventListener(MouseEvent.CLICK, vincent);
            
            //katrinaThumb.addEventListener(MouseEvent.ROLL_OUT, katrinaOut);
        }
        
        function katrina (event:MouseEvent):void{
            trace("katrina function");
            
            addChild(katLg);
            var  katText:Object =  new KatText();
            this.addChild(KatText);
            katLg.x=350;
            katLg.y=100;
            //KatText.x=10;
//            KatText.y=10;
        }
        
        /*function katrinaOut (event:MouseEvent):void{
            trace("katrina function out");
            
            removeChild(katLg);
            removeChild(KatText);
        }*/
                        
        
        function cody (event:MouseEvent):void{
            trace("cody function");
            
            addChild(codyLg);
            codyLg.x=350;
            codyLg.y=100;
            
        }
        
/*        function kevin (event:MouseEvent):void{
            trace("kevin function");
            
            addChild(kevLg);
            codyLg.x=350;
            codyLg.y=100;
            
        }*/