COMPANY TOWN ANNEX
From Times Staff and Wire Reports
Seagram Says It Won’t Increase Time Warner Stake: Edgar Bronfman Jr., the new chief executive of Seagram Co., reaffirmed that the Canadian beverage company has no plans to expand its stake in Time Warner Inc. and continues to support that company’s management. Bronfman, the grandson of Seagram’s founder, called baseless the recent press speculation that has included the possibility that Seagram would support a takeover bid or move to oust Time Warner management. Seagram has been building a stake in Time Warner for more than a year, but speculation intensified in recent months that it might demand board seats or back a management ouster or takeover in concert with others.
