N.Y. Firm to Buy Ticketron

Financially troubled Control Data Corp. said Tuesday that it agreed to sell its Ticketron ticket-service unit to an investor group led by Allen & Co., a privately held New York investment banking firm. Terms were not disclosed.

Control Data, a computer maker and financial services concern, put Ticketron up for sale last September as part of its effort to rebound from a disastrous 1985.

Control Data lost $567.5 million on revenue of $3.68 billion last year, including a $297.9-million loss in the fourth quarter that included major charges related to restructuring moves. Control Data lost another $21.2 million in this year’s first quarter.

Control Data spokeswoman Susan Busch reiterated the company’s previously disclosed plan to use the Ticketron sale to help restructure $380 million in short-term bank debt in order that the debt may be repaid by year-end.