COMPANY TOWN ANNEX

Loews Gets Clearance to Raise CBS Stake: Loews Corp. received permission from the Federal Trade Commission to raise its stake in CBS Inc. to 25% of the company’s common shares outstanding. Loews, which currently owns 17.92% of the New York-based TV network’s shares, filed an application Dec. 29 with the FTC to raise its stake as high as 25%. Loews filed a similar application in 1985 but let the clearance it received lapse. New York-based Loews--which has interests in insurance, tobacco products and hotels--cut its stake in CBS last August by participating in a stock repurchase program sponsored by the TV network.