Ticketmaster to Reimburse Springsteen Fans

Live Nation Entertainment Inc.'s Ticketmaster unit has reached a settlement with federal regulators to refund money to people who bought marked-up tickets to 14 Bruce Springsteen concert tickets last year.

The settlement was announced Thursday by the Federal Trade Commission. It would will give customers the difference between the marked-up price and the face value of their tickets.

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The FTC launched an investigation into Ticketmaster's practices after Springsteen fans who tried to buy tickets for concerts in May and June encountered a "no tickets found" message on Ticketmaster's Web site. They were redirected to the company's TicketsNow.com resale site to buy higher-priced tickets.

Ticketmaster blamed the incident on a "glitch."