Loews history

The Tisch brothers purchased a controlling interest in Loew's Theatres from MGM in 1959, a nationwide chain of 102 movie theaters.

1960: The Tisch brothers gain control of Loew's Theaters (the apostrophe is later dropped from the corporate name).

By 1968 the brothers again had the capital and the inclination to diversify and invest in a new business sector.

Through acquisitions, Loews' revenues grew from $100 million in 1970 to more than $3 billion by a decade later.

A similar scenario took place in 1974, when Loews acquired CNA Financial Corporation, a large insurance firm.

In 1979 the Tisch brothers bought 93 percent of the then-troubled firm for $38 million.

1985: The movie theaters are divested and a 25 percent stake in CBS is purchased, with Larry Tisch becoming president.

The company did not turn a profit until 1986.

Later, Bob would represent the metropolis as its 'official ambassador' (read lobbyist) in Washington, D.C. In 1990, he accepted the chairmanship of that city's chamber of commerce.

In 1991, Bob Tisch paid over $75 million to acquire half of the New York Giants professional football team.

The subsidiary acquired ODECO in 1992, adding 39 oil rigs.

In 1993, Continental and its codefendants reached a $2 billion settlement (of which Continental was responsible for $1.44 billion) to cover past and potential liabilities.

When Loews subsidiary CNA Financial acquired Continental Corporation in December 1994 for $1.1 billion, it became America's third largest property and casualty insurer.

Loews Hotel, meantime, entered into a joint venture with MCA Inc. in 1996 to develop three themed luxury hotels in Orlando, Florida, as part of MCA's expansion of its Universal Studios Florida theme park.

Late in 1998 Lorillard and the other major tobacco companies reached a $206 billion settlement with 46 states for the reimbursement of public healthcare costs associated with smoking.

The first, the Portofino Bay Hotel, opened in the fall of 1999 with 750 rooms.

In early 2000 CNA put its life insurance and life reinsurance units on the block but in August of that year announced that it would keep them.

In 2003, Loews purchased Texas Gas Transmission, then bought Gulf South Pipeline Company a year later.

These two companies were consolidated into a new entity, Boardwalk Pipeline Partners, which went public in 2005.

On May 10, 2006 Loews Corporation announced that it would offer 15 million shares of Carolina Group via a public offering, with the proceeds to be used for general corporate purposes.

On December 17, 2007, Loews Corporation announced a plan to spin off its entire ownership interest in Lorillard to holders of Carolina Group stock and Loews common stock.

In 2009, the corporation marked the 50th anniversary of its listing on the New York Stock Exchange.