Seagram raises stake in TW

Distiller Seagram Co. Ltd. said it raised its stake in Time Warner Inc. by almost a full percentage point to 10.4%.

In a federal filing, Seagram said it bought nearly 4.1 million shares for about $ 180 million — or between $ 44.12 and $ 44.25 a share — between Dec. 17 and Dec. 30, bringing its total Time Warner holdings to 39.10 million shares.

Seagram has previously said it plans to buy up to 15% of Time Warner’s common shares. Shares in Time Warner closed at 44 1/4, while Seagram finished at 26 1/8 .

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