New York-based Loews Corp., CBS Inc.’s largest...

New York-based Loews Corp., CBS Inc.’s largest shareholder, reporter its third-quarter net income dropped 28%, despite a 23.5% revenue gain, compared to the same period a year ago. Loews, which also has interests in hotels, tobacco, watches and insurance, said that in the 1985 period the firm had a large gain from the sale of its movie theaters. Loews owns a 24.9% stake in CBS.