Company Town

Media: Loews Corp. is seeking government clearance to own as much as 25% of CBS Inc. stock. Loews, which is controlled by CBS Chairman Laurence Tisch and his family, already holds 18% of the television network’s shares. In documents filed Thursday with the Securities and Exchange Commission, Loews indicated that its previous clearance to add to its CBS holdings expired in 1990. It is now seeking clearance from the Federal Trade Commission under antitrust regulations to own between 15% and 25% of CBS stock. In August, Loews reduced its CBS holdings to about 18% from 19.4% when it sold shares back to CBS for the equivalent of $65 each. Loews said in the documents that it will not buy any CBS stock below $65 a share before Feb. 21. CBS stock closed at $54.75 a share Thursday, up $1.25 on the New York Stock Exchange. New York-based Loews also has insurance, tobacco and other interests.

* Lin Broadcasting Corp. said its Lin Television unit acquired WTNH-TV, the ABC affiliate in New Haven and Hartford, Conn., from Cook Inlet Communications Corp. for about $120 million in cash and 11.5% of Lin Television’s common shares. The Kirkland, Wash.-based media holding company said the spinoff of Lin Television was completed Wednesday. In the transaction, shareholders of record as of Dec. 9 received one Lin Television common share for every two shares of Lin Broadcasting. Lin Broadcasting primarily sells cellular telephone services. Lin Television owns and operates seven network affiliates in the Midwest and the Eastern Corridor.