Control Data Corp. said Friday that it is holding talks to sell its Ticketron division to the New York investment firm of Allen & Co.
The Minneapolis-based computer firm would only say it is in contract negotiations and declined further comment. Control Data, hard hit by last year's slump in the computer industry, had disclosed plans last September to sell the giant computerized ticket agency as part of a major corporate restructuring.
Friday's disclosure was the first time that Control Data had publicly named a prospective buyer for Ticketron, which sells sports and entertainment tickets nationwide. It also sells lottery tickets in Pennsylvania, Delaware, Illinois, Washington, New York and Maryland--but not in California.
The announcement about Allen & Co. was made because Ticketron is currently bidding for a lottery contract in Missouri, a Control Data spokesman explained. "The announcement was made because the people in Missouri wanted to know who they might be dealing with."
The spokesman said there would be no further announcement until a decision is made.
Ticketron, which Control Data purchased in 1973 from Jos. E. Seagram & Sons, operates 750 outlets in 22 states and Canada. It has 150 offices in California--75 in Southern California--and is a ticket agent for the Dodgers, Angels, Rams and Raiders. Other clients include the Greek Theatre and the Pacific Amphitheatre.
Allen & Co.'s spokesman in New York was not available for comment.
Control Data said last fall that, in addition to selling Ticketron, it would continue to downsize its peripherals and service businesses and divest up to one-third of its financial services unit.
In the year ended Dec. 31, 1985, Control Data had a loss of $567.5 million, compared to a profit of $5.5 million in 1984. Revenue totaled $3.679 billion, down from $3.692 billion. Ticketron, which employs 650 full-time workers, accounted for more than $120 million of the revenue. Its profits were not disclosed separately.