Los Angeles - ArtistDirect, a provider of music and movie information and owner of anti-piracy firm MediaDefender, announced that it has made significant changes to its capital structure, which included paying off senior debt, converting subordinated debt to common stock, and securing a new credit facility with Pacific Business Capital Corporation.

In addition, the Los Angeles-based company named chairman and interim CEO Dimitri Villard as its chief executive.

"This favorable resolution of our capital structure is the culmination of a year of hard work which at times seemed impossible to achieve. I am delighted we are able to put our problems behind us and move forward," said Villard.

"We are now positioned for significant growth and will now turn our attention to growing the Company organically in addition to acquiring other strategically related businesses to build the Company into a diversified media technology business."

Related Links:
http://www.businesswire.com/news/google/20090204006301/en

http://www.artistdirect.com