Downloaded itunes will not open, "the file iTunes Library.itl" cannot be read because it was created by a newer version of iTunes.  How can I get this darn thing to work????????????????????????????//

At first I updated iTunes and tried to download an audio book. It locked up and closed me out so I removed iTunes completely and reinstalled.  Now it won't even open the stupid program.  What do I need to do?  Any help please????????

Had same problem and solved it without having to reinstore any music or movies:
1. Delete old Library file
2. Go to the 'Previous iTunes Libraries' folder and copy one of the earlier files - note, they have a date extension, e.g. 'iTunes Library 2011-11-01'.
3. Paste this file in your iTuners folder and rename file by removing the date extension -  'iTunes Library'
You should have all your music and paylists in tact, unless it was a really old previous file.

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