AP Source: Ticketmaster reaches settlement with FTC over Springsteen ticket fiasco

AP Source: Ticketmaster settles Springsteen fiasco

LOS ANGELES — Live Nation Entertainment’s Ticketmaster unit has agreed to refund money to some consumers who felt they were ripped off when they bought Bruce Springsteen concert tickets from brokers last year.

That’s according to a person familiar with the matter who spoke on condition of anonymity because an announcement is due Thursday.

The deal with the Federal Trade Commission affects about 800 people who paid marked-up prices to ticket brokers. The payout could total a couple hundred thousand dollars.

Consumers complained that tickets appeared to sell out quickly and they were then redirected to higher-priced tickets on a site owned by Ticketmaster called TicketsNow.