Got an iMac and used migration tool (PC to Mac). When I try iTunes i get The file "iTunes Library.itl" cannot be read because it was created by a newer version.... download iTunes now? but i have it already???

I just got an iMac and used migration tool (PC to Mac). When I try to then open iTunes i get the message
<The file "iTunes Library.itl" cannot be read because it was created by a newer version.... download iTunes now?>
...but i have it already downloaded, when I press download now, it tells me I already have it, but it still won't let me open iTunes???

Unless you've tried to install an older version of iTunes that message likely indicates a corrupt library file. See Empty/corrupt library after upgrade/crash...
tt2

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